Should you keep payroll in-house or outsource it to a reputable bureau? Page Kirk's Head of Payroll, Sue Newman, offers some advice.
If you're a large company, it's probably easier to justify keeping payroll processing in-house. But if you're a small to medium-sized business, you may well benefit from an outsourcing arrangement.
Over a period of time, it's quite costly to keep your software up to date and your staff trained in current legislation. It's also true to say that payroll has become more specialised, which means you need to understand the various statutory payments, as well as the implications of the national minimum wage and living wage, holiday pay entitlement, the apprenticeship levy and so on.
By using an outsourced supplier, you know that you have trusted payroll professionals on hand to answer all your queries and you can remove a lot of the stress that's associated with managing the process. You and your staff can concentrate on your core business, knowing that employees are being paid efficiently.
Your bureau should take full responsibility for all the necessary reports, paperwork and online submissions to HMRC and relevant pension providers. They will have knowledge of all the payroll legislation and staff available 52 weeks of the year. No more worries about members of your own payroll team being off sick or on holiday at critical points.
At Page Kirk LLP, we are happy to tailor our prices to your own specific needs. There are no hidden costs, so why not get in touch to discuss how we can help you with payroll management?