For small businesses the process of payroll and payroll management has become nightmarishly complicated. Britain’s companies are drowning in a sea of paperwork and payroll legislation. As well as sorting out their employees’ tax and N.I., employers have to administer maternity and paternity pay, adoption pay, statutory sick pay, student loan repayments, tax credits, pensions, and court orders, as well as all those P forms. Do you know what a P32 form is? And now there is R.T.I.
Because of red tape an employer needs to be a pension fund manager, a childcare planner, a welfare and benefits advisor, a medical expert, an immigration specialist, a legal eagle and then know something about payroll.
For many small business owners payroll takes up too much time and too much money.
A Bath University report for the Inland Revenue calculated that the compliance costs of payroll for smaller employers in 1995/96 were on average £228.00 per person per year.
Small businesses have basically three options for their payroll.
1. Their accountant does it for them. Do you know what your Accountant charges per hour?
2. They can do it themselves. They must remember that they need to buy the software and up-date it each year. If they have a problem, help and support can be frustrating and time consuming.
3. They can get a payroll agency such as Paybureau Ltd. –
Accountants similarly can save time, space, effort and money by out-sourcing their client’s payroll. The advantages are clear:
1. Your highly paid staff can concentrate on more profitable accountancy issues.
2. Less office and filing space needed and no need for special printers for payslips.
3. Higher charges can be passed on to clients.
4. No need to upgrade the software each year.
5. Paybureau Ltd. could reciprocate by passing potential clients to you.
Let Paybureau Ltd. run your payrolls so that you can concentrate on running your business.
*min. charge £16.00 per pay run.