Of course, I would say yes as payroll outsourcing is one of our core services!
However, at Tandem Business Solutions over the past 12 months seen our payroll client base increase by over 200%.
I believe this really comes down to the fact that out of all the duties an employer has, payroll is the biggest headache! Especially when staff are incorrectly paid.
So why should I outsource my company’s payroll?
In doing so a business owner can be satisfied that a qualified (you should always check for the qualifications) payroll clerk will be looking after their requirements. Taking the headache away from the business owner which allows them to concentrate on their business.
Where it comes to larger companies with many members of staff, payroll can become quite complex and time consuming. An experienced payroll clerk will however be armed with the knowledge and skills to overcome the complexity and deliver accurate and timely payrolls.
Rather than the business owner spending countless hours keeping up with new legislation and day to day issues that may arise, the payroll provider, especially if they are the PAYE agent for the business, has instant access to the companies PAYE account and can immediately action any changes or issues that arise.
Is it expensive to outsource my payroll?
In most cases employing the services of a provider can work out cheaper than doing it yourself.
A lot of providers have accounts with software companies which enables them to purchase bulk licenses for payroll at a heavily discounted rate, which is comparable to the wholesale/retail scenario. We have recently seen software companies raising their prices, especially for individuals.
The trend we are seeing the most now is where the Director is the only staff member and on the PAYE scheme. Historically most directors took a minimum wage and made up their wages in dividends. Due to the economy over the last few years director’s salaries have increased and fluctuate according to business performance. Whereas for a director running their own payroll it may seem a laborious task to keep adjusting salary, for a payroll provider a very simple task.
Due to the upcoming changes in April 2025 concerning Employers NIC and new legislation we expect more and more companies will look to outsource their payroll, also other in-house duties, to reduce their Employers PAYE costs.
Payroll outsourcing at Tandem
As you can see, outsourcing payroll for your business can save you time, reduce errors, ensure tax compliance, and even enhance security. It minimises costly mistakes, prevents penalties, and keeps your employees paid on time. Our experts handle tax updates, filings, and deductions, letting you focus on growing your business while improving efficiency, accuracy, and financial security.
We at Tandem totally understand that it is IMPERATIVE that staff receive their correct wage, all the time, every time.
If any of the above resonates with you and your payroll requirements, please get in touch and book a Discovery Call to see how we can assist you.