Outsourcing Payroll to your Accountant
16 January 2019
For most firms with employees, there comes a tipping point when handling payroll in-house is no longer feasible, although this point varies from business to business.
Read our guide on Outsourcing Payroll to find out if it makes sense for your business.
Payroll can consume vast amounts of time each month depending on the number of employees there are and how often they get paid. There is a lot to cover to ensure that you are compliant with employment legislation and getting workers paid on time. Along with salary deductions, such as income tax, national insurance contributions, workplace pension contributions and student loan payments, you also have to be compliant with Auto-enrolment, reporting employees taxable benefits, submitting payment summaries to HMRC before you pay your employees and ensuring you comply with the latest GDPR legislation on keeping employees' data confidential and secure.
How can Payroll Outsourcing help your business?
- Reduce overheads
- Free up time to focus on core growth activities
- Increase payroll efficiency - stay compliant and avoid penalties
- Decrease risk of relying on one person
- Improve management information
- Reduce GDPR/security risk
Provided you pick the right accountancy firm, outsourcing your payroll can save money, time and provide peace of mind that you will never miss a deadline with HMRC. If you would like to discuss your payroll options with Daly Park, please give Aine O'Hagan, our Payroll Manager, a call or send an email.