Benefits of Payroll Services for Small Businesses

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24 June 2019 Blog

Running payroll can be a nightmare for small businesses. Business owners have increasing pressures on their time and there is a growing need for them to have knowledge of all aspects of their business.

Payroll compliance is also becoming more and more complex with the introduction of workplace pensions, constant increases in the national living wage and real-time reporting to HMRC. This demands more and more time from the business owner if they want to make sure their accounts preparation is tax compliant.

Many small business owners prefer to ask their accountant to prepare their payroll for them. Payroll services take away the hassle and free up time for owners to work on the business, not in the business, that’s why they’re a corner stone of our accounting packages.

What payroll companies can provide you with:

Keeping track of important employee tax information
The handling of special payment circumstances in compliance with HMRC, such as disability, employment, and family leave
Helping your company to track attendance and paid time off (PTO) among employees
Helping employees to view and update their information such as pensions, insurance and benefits
The collection, processing and sending of important data and forms

The advantages of this are:

Peace of mind that regular deadlines will be hit without worry
Frees up hours of valuable time each week or month
Ensures optimal compliance with HMRC
Software can be utilised to its full potential to save time for both employees and business owners
Full integration with accounting software such as Xero.
Reduction in the risk of errors
In-depth reporting and analysis if required
Full support from qualified and experienced professionals

All in all, having a company to manage your payroll can be extremely beneficial for businesses small and large, as it allows you to direct attention away from admin and instead focus on growth and success.

Get in touch today for a no-obligation payroll services quote that will enable you to focus on what is important to you.

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Dan Routcliffe

Email: dan@sidaways.co.uk

Tel: 01392 360008

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