Payroll Services by Simplista Financial
Payroll services are time-consuming. It is also one of the most business-critical functions that must run smoothly so that you, your employees, and your clients are all happy. But what happens if your payroll manager goes off sick? Can you respond quickly to a change in government legislation? If not, that’s where we come in, but there are many other points to consider when it comes to payroll services.
What do payroll services include?
A small business payroll service will differ from a large multi-national company payroll service, but payroll packages will usually include:
- Data entry
- Tax calculations
- National Insurance
- PAYE
- Auto-Enrolment
- Pensions
- RTI provided to HMRC
- Payslips
- Official documents, e.g. P45, P60 and P11d
- Reports
- End of year summary
- GDPR compliancy
Why do companies use payroll services?
Companies use payroll services because they can focus on all their brilliant superpowers, such as business development, sales, and communications, instead of playing around with numbers.
In-house payroll services can be expensive, so companies often opt for external payroll services to save money. Additionally, using a payroll service package eliminates concerns about compliance, regulations, and legislation, as accounting firms have specialized knowledge in these areas.
Should I outsource my payroll to Simplista Financial?
There are many benefits to outsourcing payroll services to Simplista Financials including
- Time savings
- Reduced costs
- Improved accuracy
- Enhanced security
- Access to expertise
- Quick and efficient service
Nowadays 61% of businesses outsource their payroll too, which suggests that thousands of companies prefer outsourcing payroll rather than doing it in-house.
How much does it cost for payroll services?
On average, payroll outsourcing costs around £10 per employee, though this can vary for employees and directors. While considering the expense of outsourcing payroll services is important, it’s also crucial to consider the savings. Expert knowledge, up-to-date software, regular training, risk reduction, and avoiding penalties provide peace of mind, ensuring your payroll is managed efficiently.
