The top 5 reasons to outsource your payroll

As a business grows and changes, the benefits of outsourcing the payroll function to an external provider can become more significant. 

An external payroll provider can take on the responsibilities associated with managing staff payments including Statutory Sick Pay, pensions, National Insurance and PAYE. 

Here we look at the top 5 reasons why this might be the right move for you. 

Save costs

Using an external payroll service can significantly reduce the costs associate with payroll processing. There’s no need to have a payroll system – providing cost-savings in terms of computer software and programme maintenance, as well as the training required to keep up to date with ever-changing legal requirements and tax rates.

Free up staff time

Admin and accounts staff are always busy! Outsourcing your payroll can free up their time for other tasks. Dealing with pension companies and HMRC can be time consuming and frustrating. Your external payroll provider can manage queries and make enquiries on your behalf. 

Reduce risk

Part of a payroll provider’s role is to be fully conversant with changing government regulations and they will often take the lead in filing all the paperwork necessary for compliance. This ensures that employers don’t have to worry about this often-onerous requirement, and it can also limit the risks associated with payroll compliance.

Minimise payroll errors

External payroll providers automate many of the labour-intensive aspects of payroll, thereby reducing the mistakes that commonly result from manual calculations and data entry.

Improve security

Outsourcing payroll to a reputable provider that invests in state-of-the-art technology and has redundant backup and multiple server locations can help employers safeguard their confidential data. 

We can help

Torgersens have over 25 years’ experience in managing payroll functions for companies across the region. With access to the latest software we can meet all your payroll requirements and ensure that you are fully compliant with current legislation.

Our payroll services include:

• Employee payslips
• Weekly and monthly payrolls
• Departmental reports
• Dealing with starters and leavers
• Provision of analysis of staff costs
• Real Time Information (RTI) PAYE returns for HMRC
• Assistance with automated payments
• CIS returns
• Year-end employee summary P60s and P11D and benefits and expenses returns
• Assistance with Work Place Pensions processing

Related tax planning advice

We also offer specialist advice on all employment tax issues, including:

• Tax efficient remuneration strategies
• Planning for retirement
• Termination payments
• Inducement payments
• Company car and van strategies
• Benefits planning 

For further information

Please get in touch if you have any questions about outsourcing payroll, or the services we can provide. We’ll be delighted to help. Call us on 0191 284 4411 or email us at enquiries@torgersens.com.