Against the backdrop of National Payroll Week, Swindon professional services firm Optimum says outsourcing payroll brings a whole host of benefits.
National Payroll Week, which this year runs from 6th-10 September, was founded in 1998 to celebrate the payroll profession and give it the recognition it deserves, demonstrating the importance the payroll industry has in the UK through the collection of income tax and National Insurance.
As an employer, payroll is among the most important tasks for a business but running a payroll can be time-consuming, is highly regulated, with frequent changes and is easy to get wrong.
There is another option: outsourcing payroll. At Optimum Professional Services there is an experienced team, headed by Payroll Manager Liz Grange and Payroll Clerk Carol Conway, who run the payroll for a number of the company’s clients. The benefits include:
Saving time. All a business needs to do is give the payroll provider information on standard hours worked, plus any variations such as days off for sickness or holiday.
Keeping compliant. There is a hefty legislative side to payroll and many regulations that must be adhered to.
Pension scheme compliance. An outsourced payroll provider will ensure the scheme used complies with automatic enrolment requirements.
Accuracy. Using a payroll professional reduces the risks of errors.
Queries. A payroll professional can deal with any queries from employees and HMRC.
Employee retention. Paying wages accurately and on time enhances a business’s reputation as an employer.
Professional support. Payroll clients at Optimum also have access to accountancy and legal services.
Cost. When the time saving and convenience is factored in, outsourcing becomes a very cost-effective option.
Peace of mind. By outsourcing payroll, the burden is taken off the business owner’s shoulders.
Liz Grange, Payroll Manager at Optimum, said, “If you have a limited company and you are your only employee, you might feel outsourcing payroll is unnecessary. However, mistakes can still be made, even where there is a single payee.
“If you are struggling to make time for your payroll, or have any concerns about being compliant, or simply want some help and advice, please get in touch. Email firstname.lastname@example.org or visit www.optps.co.uk.”
Pictured above: Carol Conway, Payroll Clerk, Optimum