There are many businesses for which using a payroll provider would prove beneficial. For smaller companies a bureau, staffed by experts who make it their business to keep up to date and apply current legislation and practices, can provide a consistent, confidential service. For larger businesses, keeping the payroll service off-site can free up valuable time and ensure systems and processes remain efficient bearing in mind the raft of combinations of personal circumstances staff will be taxed under.
There is a simple checklist to run through before either outsourcing your payroll or changing payroll providers:
Your current records: ensure you are able to provide the provider with all the payroll records before switching.
Stopping the current service: the new provider must have all the necessary information before your current service is switched over to ensure an uninterrupted service.
Timing: the set up process is simplified if switch over is done at the beginning of a new tax year.
Customer service: while cost may be an important factor when choosing a payroll provider, good customer service is vital. Are phones answered by account handlers or a contact centre? How quickly are queries responded to? What systems back up do they have in place?
System functionality: does the provider have the capability to handle your needs? Is their system compatible with yours? Does their reporting system fit your financial requirements? Are they willing to be flexible to ensure complete compatibility?
Geography: the location of your payroll provider may not be important because the overwhelming majority of systems are electronic. However, if personal contact or the ability to deliver information in person is important, the location may come into play.
Continuity: many payroll bureaus will provide you with an account handler who will know and understand your account. Ask what happens when they’re away, what happens with queries outside their remit, how communication will work etc.
Year end: is the provider able to follow through by providing year end reports, filing the necessary HMRC documentation etc. Before committing to a new provider, ensure you are clear exactly what they will and won’t provide.
Rawlinsons Payroll and HR Ltd provides a high quality payroll bureau service for a variety of businesses across many sectors with a wide range of payroll requirements. The team of experts provides a tailored, cost effective, efficient and consistent service from offices in Peterborough. The bureau is backed by the expertise of Rawlinsons, a long established firm of chartered accountants, business and tax advisers.
For more information please contact our Payroll team on 01733 865265.