For small businesses the process of payroll and payroll management has become nightmarishly complicated.
Britains companies are drowning in a sea of paperwork and payroll legislation. As well as sorting out their employees tax and N.I., employers have to administer maternity and paternity pay, adoption pay, statutory sick pay, student loan repayments, tax credits, pensions, and court orders, as well as all those P forms. Do you know what a P32 form is?
Because of red tape an employer needs to be a pension fund manager, a childcare planner, a welfare and benefits advisor, a medical expert, an immigration specialist, a legal eagle and then know something about payroll.
For many small business owners payroll takes up too much time and too much money.
A Bath University report for the Inland Revenue calculated that the compliance costs of payroll for smaller employers in 1995/96 were on average £228.00 per person per year.
Small businesses have basically three options for their payroll.
1. Your accountant does it for you. The costs of this can be hidden away in an all-inclusive package. Do you know what your accountant charges per hour?
2. You can do it yourself. Dont forget you must buy the software and up-date it each year. If you have a problem, help and support can be frustrating and time consuming.
3. You can get a payroll agency such as Paybureau Ltd. – firstname.lastname@example.org to do it for you at £2.00 or less* per paypacket.
Let Paybureau Ltd. run your payroll so that you can concentrate on running your business.
*min. charge £15.00 per pay run.