We often hear that payroll is simple; you just type the pay into the system and it tells you what to pay, right? But, are you sure you know which elements are taxable and NI-able? What about how much if someone goes on sick leave or maternity, do you know if they are eligible for statutory payments and how much these are? What if an employee queried their tax code, would you know how to explain what their tax code meant and how the tax was calculated?
By outsourcing to a professional bureau, where every member of the team receives thorough training and regular updates, you have the peace of mind that all the technical details are taken care of.
Pensions
Pensions have been high on the agenda for the last few years, but there are certain nuances that you may not be aware of. Did you know that there are three ways you can deduct pension contributions? Is your payroll set up in the same way as your pension provider? Do you have to upload the contributions to the website yourself? Professional bureaus should offer a full auto-enrolment service, completing the assessment of employees, employee communications, uploads to pension providers and dealing with your declaration to the Pensions Regulator.
Payslips
The way that people receive information and the information they have access to at their fingertips has changed dramatically with developments in technology, and payslips are no exception to this. How do your employees currently receive their payslips? Have you considered if this is GDPR compliant? PayDashboard is a secure online portal that allows your employees to view their payslips online and even alerts them to review their tax code if they have an unexpected change. PayDashboard also gives you management information so you can see how your wage bill changes over time. It can also be used to send and receive payroll information securely – so you have it all in one place.
The items discussed here are just some of the ways outsourcing your payroll to Hazlewoods will make life easier for you. We are also a BACS bureau, so we can arrange the payment of your employees’ wages from your bank account and pay HMRC – so it doesn’t matter if the boss is on holiday on pay day – everyone still gets paid on time!
For more information or to get a quote for payroll, please contact Cheryl Baker on 01242 680000 or email payrollsupport@hazlewoods.co.uk.