12 Dec Why shoud you consider using an online payroll solution?
There is little doubt that payroll is one of the most essential areas within a business that employs staff. Not only will your employees not be happy if their pay is late or incorrect, but it is vital in terms of your legal responsibilities. Correct payroll reporting to HMRC in terms of tax and other relevant information for your employees is a legal requirement that you must get right.
Many companies will handle their payroll themselves, but there are many great reasons to think about letting an experienced online payroll solutions company manage it for you.
Risk is reduced to zero
As we have noted above, getting your payroll details correct is crucial in terms of the information you give to HMRC for your staff. The problem most businesses face is that the staff who are processing the payroll are often very busy, which can naturally lead to mistakes. Unfortunately, these mistakes can be very costly when the taxman notices!
Eliminate this from happening by using a dedicated and professional online payroll service. They will have the time to spend solely on the payroll for your business and ensure everything is done correctly.
Free your staff up
Although it is an important task, payroll processing is something that diverts your staff from performing more valuable core work within your company. By using an online payroll service, you will still get your payroll processed as needed but also free your staff up to spend more time with customers or on work that brings money into the business.
Removes the need to keep up to date with changing rules
One of the real downsides for any business that processes their own payroll is having to constantly keep up with new or changing laws in the area. Failure to do so or interpret the changes correctly is a costly mistake that no business can afford to make. Why not make it easier on your business and use an online payroll provider? This will allow you to let the experts keep up to date with the latest HMRC guidelines and implement them.
Here at SQK Accountancy, we can offer professional and experienced online payroll solutions for your company. Let us take the task of running the monthly payroll off you so you can concentrate on other, more business-critical things.