8 Reasons Why An Employer Should Use Our Payroll Services

Employing an accountant like WHR Accountants to carry out your payroll services offers numerous benefits for your business, helping to ensure accuracy, compliance, time savings and not least of all efficiency. Here are 8 good reasons below as to why, if you are an employer, you should be using our services:

1. Expertise and Accuracy:

• Accountants possess in-depth knowledge of payroll processes, tax regulations, and employment laws. This expertise minimises the risk of errors in calculations, deductions and payments, ensuring employees are paid correctly and on time.
• They stay updated with the ever-changing legislation from HMRC (Her Majesty’s Revenue and Customs) regarding payroll taxes, National Insurance contributions, and statutory requirements like pensions and Real Time Information (RTI) reporting. This proactive approach helps businesses avoid costly penalties and legal issues associated with non-compliance.

2. Ensuring Compliance:

• Navigating the complexities of payroll regulations can be time-consuming and challenging for businesses without dedicated expertise. Accountants ensure your business adheres to all relevant laws, including PAYE (Pay As You Earn), National Insurance, and auto-enrolment pension schemes.
• We handle crucial filings and submissions to HMRC accurately and on time, such as RTI returns and end-of-year forms (P60s).

3. Time and Resource Savings:

• Managing payroll in-house can be a significant administrative burden, diverting valuable time and resources away from core business activities like sales, business development and customer service.
• Outsourcing payroll to an accountant frees up your internal team, allowing them to focus on strategic tasks that contribute directly to business growth. It also eliminates the need for in-house staff training and the expense of purchasing and maintaining payroll software.

4. Cost Efficiency:

• While there’s a cost associated with hiring an accountant, it can often be more cost-effective than employing a dedicated in-house payroll team, considering salaries, benefits, training and software expenses.
• Accountants help avoid costly mistakes and penalties that can arise from incorrect payroll processing or non-compliance, potentially saving the business significant amounts in the long run.

5. Enhanced Security and Confidentiality:

• Payroll data contains sensitive personal and financial information of employees. Accountants have robust systems and procedures in place to ensure the security and confidentiality of this data, protecting it from unauthorized access and potential breaches, adhering to GDPR (General Data Protection Regulation) requirements.

6. Access to Expertise and Technology:

• Accountants often utilize the latest payroll software and technologies, ensuring efficient and accurate processing. Small businesses might find it expensive and complex to implement and maintain such systems in-house.
• They can provide valuable insights and reports on payroll data, aiding in financial planning and decision-making.

7. Scalability and Flexibility:

• As your business grows, payroll complexities increase. Accountants can seamlessly scale their services to accommodate changes in headcount and evolving payroll needs without requiring you to expand internal resources or expertise.

8. Improved Employee Satisfaction:

• Accurate and timely payroll is crucial for maintaining employee morale and trust. By ensuring correct payments and handling payroll queries professionally, accountants contribute to a positive employee experience.

In conclusion, engaging an accountant for payroll services offers businesses peace of mind, knowing that this critical function is handled accurately, efficiently, and in full compliance with all relevant regulations. This allows business owners and their teams to concentrate on their core competencies and drive business success!

Finally, for details on our payroll services please get in touch by giving our professional, friendly team a call on 028 3752 2909.