Why outsource your payroll function

This very much depends on the nature of who you are. Therefore we have given a number of answers for each particulary type of business that you may have.

Small to medium size enterprises (SME's)
People are the most vital part of your business. Paying those people correctly and on time, is therefore a vital function of your business. With the many complications of processing payroll, including statutory maternity pay, calculating occupational pension contributions, employing an outsourced solution lets you ensure that everything is done correctly and efficiently.

Payroll outsourcing has therefore become a very effective business tool and used by thousands of small and medium sized businesses that do not want to tie up resources in running their own payroll, or run the risk of getting it wrong.

Normally, payroll details are provided to your dedicated contact at 365 Payroll Services, who then processes the payroll and dispatches the appropriate payslips with all management reports, which show the calculations, including net pay, PAYE and National Insurance. The complex tax year-end process will also be completed at the end of the financial year.

Therefore, time and effort saved through outsourcing, allows staff to focus on core business issues and prevents the need for expensive training of your staff to ensure compliance with ever changing and increasingly more complex tax rules and government legislation.

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Larger Enterprises
Dissatisfied with your current payroll service, or find yourself having to pay increasing charges for an unreliable service? Payroll processing is a time critical and highly confidential operation. Therefore, outsourcing of payroll is increasingly becoming the 'resource of choice' for many larger organisations as they realise it is a far more cost effective method of paying employees. It is therefore no longer necessary to employ dedicated payroll staff, as 365 Payroll Services can take care of the entire payroll function on your behalf and ensure that your payroll is maintained efficiently and effectively.

Where appropriate, we can take payroll details from your existing internal documentation and keep track of SSP and SMP records and calculations, as well as deal with employee and third party queries on your behalf - effectively acting as your own payroll department in a strictly confidential manner.

You'll no longer need to worry about changes in staff, sickness pay, holiday pay, maternity pay, paternity pay, adoption pay and student loans - all of these complex issues can be dealt with for you, on your behalf. Our computerised payroll software can produce the reports and payslips required by law, as well as P45's, P46's, P35's etc too. In addition, you can rest assured that all paperwork and computer records are stored securely and produced as and when needed, making Inland Revenue and contribution agency inspections more efficient, saving you time and inconvenience.

Therefore, time and effort saved through outsourcing, allows staff to be refocused on core business issues, preventing the need for expensive training of your staff to ensure compliance with ever changing and increasingly more complex tax rules and government legislation.

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Accountancy Firms
Outsourcing of the payroll process is now a mature market with high skill levels able to support your business which eliminates many of the costs associated with operating payroll in-house. You no longer need to worry about whether your software meets current legislation, or bear the cost of upgrading. Your staffing costs are reduced and valuable time retraining new employees becomes a thing of the past. Computer terminals on your network are no longer tied up processing your payroll, allowing other work functions to be processed, instantly improving efficiency.

As government legislation in respect of PAYE and NIC matters becomes ever more complicated, an increasing amount of time and resources are being allocated to non-core accounting functions. Using 365 Payroll Services will allow accounts staff to be released to perform more productive accounting functions.

Even where an Accountancy firm elects to outsource the processing of its clients' payrolls, there are many instances where the client relationship remains intact and the Accountants clients are never aware of the outsourced processing function.

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