National Payroll Week: Building a successful service

Payroll has always been a vital element of the workplace, but sometimes employers are guilty of not recognising its importance.

This week is National Payroll Week and after 18 months of Coronavirus uncertainty and its ongoing impacts, payroll has never been more vital to the workings of the economy and work-world.

Business leaders have had to reconsider how necessary timely pay is amid the financial insecurity of their employees.

Not only this but nearly half of British businesses now believe their organisation will look fundamentally different after the crisis, recent research suggests.

Considering it is National Payroll Week, we thought it was important to enlighten businesses on the significant aspects to think about when trying to build a successful payroll service.

A growing number of UK businesses are introducing flexible payroll practices to enable staff to choose a payday that best suits their personal lives or drawdown advances on wages.

Employers wanting to operate multiple payroll dates should find that their current payroll provider already allows this.

However, switching to a newer payroll adviser can massively reduce the workload, with the amount of work, administration and data being sent to HMRC taken off the company’s hands.

With the rise in businesses using temporary staff and freelancers, more companies are outsourcing their payroll functions.

Small and medium-sized businesses that wish to avoid the expense of a full-time in-house payroll team may consider this a cost-effective and practical move.

Preparation of the weekly or monthly payroll can be time-consuming. When your focus is on making sure your customers are happy, sorting out the weekly or monthly payroll can be yet another unnecessary distraction.

At McGills Accountants, our service is not only cost-effective but releases you from this laborious chore so that you can do what you do best, run a successful business.

What can we do to help?

  • Run weekly, monthly, or quarterly payrolls with computer-generated payslips
  • PAYE, national insurance, statutory sick pay, statutory maternity pays, workplace pensions, and any other administration
  • Completion of all statutory forms – including year-end
  • Summaries and analysis of staff costs
  • Administration of incentive schemes, bonuses, and ex-gratia payments

Not only will this leave your business with a fully managed and confidential payroll system, but we also save your time and effort, while keeping up with the latest legislations for you.

To find out more, please contact our expert team today.