Do you run your own small business payroll?

If you answered ‘yes’, then question is why? Perhaps you’re considering outsourcing payroll as a solution.

Check out the main benefits of using an outsourced payroll service.

1. Outsourcing payroll provider can save you time & money

First and foremost, using outsourced payroll services will save you time. This is time which you can spend growing your business.

There are other time-saving and cost saving benefits to having your payroll run by a small business payroll provider.

You will not need to pay an employee to manage your businesses payroll function or add payroll to an existing job role. Payroll service providers employ expert teams dedicated to ensuring your monthly or weekly payroll is accurate and delivered in a timely fashion.

You and your employees can focus on doing what you are good at.

2. Payroll providers are experts

By outsourcing payroll, you have immediate access to payroll officers and managers who spend their working days immersed in everything payroll.

If HMRC issue a change to policy, they know about it. Ask them the current statutory payments for maternity and sickness they know them.

The margin for error in understanding annual changes to tax and NI can be high when you do it yourself and the penalties for getting it wrong also high. A personal payroll account manager will ensure you are always compliant.

Your payroll provider will be able to accurately calculate gross pay, net pay, pension contributions, holiday pay, maternity pay (and SMP advanced funding), redundancy pay and much more. You tell them what you need to know and they will do the sums for you.

3. Avoid HMRC penalties

Outsourced payroll providers act as your agent with the HMRC. They will make sure you know how much to pay your employees and how much, and when to pay HMRC to cover employers tax and national insurance contributions.