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Is payroll becoming a problem?

No matter the size of your business or how many staff you have working for you, payroll can be one of the most demanding but equally important responsibilities you have as an employer.

Ensuring your employees are paid on time and correctly is key to not only keeping your workforce happy, but the taxman too.

Payroll can be time-consuming and is often a considerable source of stress for business owners and managers. Nevertheless, it is an important function within your business and it is not something that you can avoid.

Managing your payroll effectively can be challenging, especially when you consider that the legislation is constantly changing. Hence, many businesses opt to hand it over to the professionals – but what are the benefits of doing this?

Never miss a trick when it comes to changing legislation

The legislation that governs how payroll and pensions must be processed and administered is always changing. Employers must be ready to accommodate new rules, whenever they arise, and continue to administer their payroll accordingly. Change can cause both confusion and concern but outsourcing your payroll can take this added stress out of the equation.

Auto-enrolment: Helping your staff pay into a pension

By now, all existing employers should have enrolled eligible employees into a qualifying workplace pension. Existing employers were given a staging date; the date on which their automatic enrolment duties would commence.

However, new employers who took/take on workers for the first time on or after 1 October 2017, have an immediate obligation to enrol eligible employees into a qualifying pension scheme. Their duties take effect on the first day that the first member of staff began working for them. This date is known as their ‘duties start date’.

Understanding the options available to your business and employees and ensuring that you are compliant at all times can be far easier with a professional on board.

Cut costs, save time and free up your resources

Software, training, printing, posting and mistakes; these things can all be costly. This is why many businesses find it more cost-effective to outsource their payroll function. Outsourcing can also save you time and free up resources that would be better utilised elsewhere in the business.

Enjoy improved efficiency and reliability

Accurate data, whatever it represents, coupled with a quick turnaround time is conducive to running your business efficiently. Outsourcing your payroll can ensure you have the detail that you need, at your fingertips. Outsourcing also removes the need to rely upon one or two individuals running your in-house service; instead you can be confident in the knowledge that there are a team of experts taking care of your payroll requirements.

How can we help?

GH Payscheme is a professional payroll bureau service, developed specifically to help businesses operate more efficiently and cost-effectively.

We offer a comprehensive, confidential and competitively priced solution for businesses of any size, operating in any industry sector, in any location. To find out more about how we can help you, contact us today.

To read more about what is at stake when you are struggling to cope with your payroll and auto-enrolment obligations, click here.

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