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Why You Should Offer An Extra Service To Your Accountancy Practice Clients

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Over the last few years, payroll has become more and more time-consuming for small and medium sized businesses, with the result being that many of them are now outsourcing their payroll to their accountants or to specialist payroll bureaus who can do everything for them. Large businesses with many employees can afford to employ a payroll specialist in-house, but when you only have ten, twenty, or fifty, that is not practical. At the same time, the payroll can become extremely complex and difficult to manage for a small enterprise. Different employees can have benefits which mean that their taxes differ from someone on the same wage doing the same job. A Sales team on commission have a different amount of income every month. Other staff members may do overtime. It can all get very complicated and can get on top of a staff member who was hired for a particular position, and then had to be trained up to carry out the payroll on a part-time basis, thereby also taking that employee away
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Why Should You Outsource Your Payroll In The UK?

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If you run a big business – one with more than 250 employees – carrying out your payroll function is going to take up quite a bit of time. However, a business of that sort of size and larger can afford to hire a payroll manager, and in some instances run a payroll department. However, there are only a few thousand businesses in the UK of this sort of size. There are over 1.3 million with less than 50 employees, and so it is not affordable to hire a payroll manager because there is not enough work to justify it.   If a business of that sort of size is going to do the work in-house, the costs can mount up though. You have the costs of software, training staff to do the work, printers, printing and distributing payslips, creating tax returns, and the hours that staff are engaged on the work, and you might be surprised at just how much that all adds up to. It is usually a lot more cost-effective to use payroll bureau services in the UK than do it in-house. The Possibility Of Errors
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Location: London, UK
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If You Run An Accountancy Practice, Consider Offering Payroll Services To Clients.

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If you are an accountant and run your own practice, there are a considerable number of benefits to providing payroll services to your clients on top of the other services that you already provide. More and more small businesses are outsourcing their payrolls to their accountants or to payroll bureaux because of the huge amount of time and hassle involved in running them in house. Last year, Deloitte reported that 47% of organizations in Europe, Middle East, and Africa (EMEA) are outsourcing payroll completely. Still other companies are outsourcing part of their payroll functions. In fact, in the UK, payroll outsourcing has increased considerably since 2013 when HMRC introduced Real Time Information to the PAYE system, which means that employers now have to deduct taxes and return reports every time an employee is paid rather than just at the year end. By offering your clients payroll services you can become a one-stop shop that covers everything your clients need. It will also en
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Location: London, UK
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Auto Enrolment Pension Schemes – An Important Consideration for Every Business

As a business owner, there is so much legislation with which you have to keep up these days. Forty or fifty years ago, if you wanted to start up in business you did just that. As long as you paid the appropriate taxes at the end of the year, that was it, and everyone was happy. But today, business owners have many more things to deal with that have become law. Obviously, as business starts to expand it will need to take on employees and that means running payroll. That, of course, was always the case, but today payroll is far more complex than it used to be, particularly since the introduction of Real Time Information in 2013, which means that businesses now have to deal with taxes and reporting every time an employee is paid. However, we now also have the auto enrolment pension schemes. Payroll is difficult enough, but auto enrolment pensions are another burden on top for nearly all businesses. You have to automatically enrol eligible employees into your pension scheme. Whether th
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Location: London, UK
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Our Payroll Services Give You Back Your Time

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When you start out in business on your own, in nearly all cases there will just be you and perhaps a partner or two, but if the business gets off the ground successfully, in a few months’ time you will need to start taking on employees. To begin with, it will probably be just one employee and that may be to assist with the office work, or perhaps as a salesman or woman. A little later on, you will probably take on another employee, and then more as your business expands. When you take on an employee you immediately walk into a bunch of regulations both in regards to taxes and your pension scheme. If your employee is eligible, and most are, you will have to set up a pension scheme and contribute to it. You may need your accountant to assist you with this. However, when it comes to payroll, you can probably manage to deal with all the paperwork when you only have one or two employees. Spending ½ day per week or more on payrol However, your business expands further, and suddenly y
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Location: London, UK
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