Why Expert Payroll Management Is Key for Your Business
Running a business with employees brings a vital responsibility, ensuring they are paid accurately and on time, every time. Beyond simply transferring funds, payroll involves complex calculations for tax, National Insurance, pensions, and statutory payments, all while meeting strict HMRC deadlines and reporting rules. Get it wrong, and you risk penalties, unhappy staff, and damage to your company’s reputation.
Managing payroll in-house can be a time-consuming and often stressful task, especially with ever-changing legislation. It takes focus away from your core business activities. This is where a specialist payroll service becomes an essential asset for businesses of all sizes, ensuring precision, compliance, and peace of mind.
Our Payroll Service
At Worthwhile Accountancy, we offer a comprehensive payroll service that handles all the complexities of paying your staff. For those who employ staff, our service ensures your payroll runs smoothly, accurately, and on time, every time.
Nicky, our expert, leads this service. She and her team provide weekly or monthly payslips to your staff and advise the payments to be made to employees and the monthly tax liability owed to HMRC. They will correspond directly with HMRC on your behalf, handling queries and making sure all submissions are correct. At the end of each tax year, all annual P60s and P11Ds are provided, completing your reporting duties thoroughly.
Our approach saves you the internal costs and hassle of setting up and running a payroll department, keeping you compliant without the burden.
What Our Payroll Service Includes
Our payroll service is built to handle every aspect of staff payment, ensuring both accuracy and strict compliance with all UK employment and tax laws. We cover the entire payroll cycle, from start to finish, so you can rest assured that your employees are paid correctly and your obligations to HMRC are met.
Comprehensive Administration Support
Beyond just payroll calculations and submissions, Worthwhile Accountancy will assist you with key administrative tasks that support your staff and help your business run smoothly. Often-overlooked area is crucial for staff relations and legal compliance.
This additional support helps you build a strong, compliant, and well-managed team without the need for extensive in-house HR resources.
Helping you prepare and issue clear, compliant contracts to your members of staff, setting out terms and conditions from the start.
Assisting with the creation of detailed job descriptions that outline roles, responsibilities, and expectations for each position within your company.
Advising on and helping you set up relevant Key Performance Indicators to effectively review and measure your staff’s performance, helping you meet your company aims.
The General Data Protection Regulation (GDPR) means careful handling of employee data. Worthwhile Accountancy can help advise on the new GDPR rulings to ensure your HR processes are compliant, from how you collect and store personal data to how you handle subject access requests, making sure sensitive employee information is kept secure.
Guiding you through the administrative process of bringing new employees into your company, ensuring all initial paperwork and registrations are correct.
The Benefits of Outsourcing Your Payroll and Admin
For many businesses, the advantages of outsourcing payroll and associated administration are clear:
- Significant Cost Savings: You avoid the direct costs of employing a payroll administrator or HR person, such as salaries, employer’s National Insurance, pension contributions, holiday pay, and training expenses. You only pay for the service you need, making it a highly efficient financial choice.
- Guaranteed Compliance: Payroll rules, tax rates, and pension regulations change frequently. Our experts stay fully updated on all legislation, ensuring your business always meets its obligations and avoids costly HMRC penalties.
- Accuracy and Reduced Risk: Professional payroll processing greatly reduces the risk of errors, which can lead to employee complaints, HMRC inquiries, or financial losses.
- Time and Focus: Free up your valuable time, or your internal staff’s time, that would otherwise be spent on complex payroll calculations and administrative duties. This allows you to focus on growing your core business.
- Data Security: We use secure systems to handle sensitive employee data, ensuring compliance with data protection laws like GDPR.
- Reliability: You gain a dependable service that continues even if key internal staff are on holiday or sick leave, ensuring continuous, timely payments.
- Strategic Advice: Beyond just processing, we offer insights into payroll costs, employer liabilities, and efficient ways to manage your workforce’s financial aspects.
Get Your Payroll Running Smoothly
Don’t let the complexities of payroll and HR administration weigh down your business. With Worthwhile Accountancy, you gain a trusted, cost-effective solution that ensures your staff are paid correctly and your company stays compliant. Nicky’s expert support makes managing your team’s financial and administrative needs straightforward.
Contact Worthwhile Accountancy today to discuss your individual requirements and find out how we can simplify your payroll and administration.
Tailored Payroll for Your Business
“We are a company based in Manchester, and Worthwhile Accountancy has supported us since 2019 on a remote basis. This works really well as they are always quick to respond to our needs/issues and we feel they are part of “our team”. Nothing is too much trouble and they keep us well informed of government changes, payment deadlines etc etc.”
FAQs
Typically, we’ll need employee details (name, address, NI number, bank details), agreed salaries or hourly rates, hours worked for each pay period, and information on any absences (sick leave, holidays, maternity/paternity leave).
RTI means you must report payments to HMRC on or before the day your employees are paid. This requires accurate, up-to-date payroll records and submissions each pay run. Our service handles these regular submissions for you.
P60s are year-end summaries of an employee’s total pay and deductions for the tax year. P11Ds are used to report any taxable expenses or benefits (like company cars or private medical insurance) provided to employees that are not put through the payroll. We prepare and provide both of these for you.
Yes, absolutely. We can assist with assessing employee eligibility for auto-enrolment, calculating pension contributions, and submitting the necessary data to your chosen pension provider, ensuring you meet your duties as an employer.
GDPR (General Data Protection Regulation) requires careful handling of sensitive employee data (names, addresses, NI numbers, bank details, health info). You need a legal basis to process this data, must keep it secure, and only store it for as long as necessary. We help ensure your payroll data handling meets GDPR rules.
Yes, often even for a single employee, outsourcing is more cost-effective than doing it yourself. The time spent keeping up with rules, running calculations, and making submissions can quickly add up, easily surpassing the cost of a dedicated service.
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“Handling your own accounts and taxation can be complex and time consuming. Lack of experience can lead to serious problems in your business, which can easily be avoided. By taking expert advice, any discrepancies are spotted early and dealt with before they become a problem.”
Nicky Nevison – Worthwhile Accountancy