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Registered Auditors & Chartered Accountants
One of the many services our chartered accountants offer Windsor and Slough businesses is payroll management. But if you’re just starting up a business or having traditionally handled payroll in house, you might be wondering what sort of benefits outsourcing can provide. This blog post looks to answer this very question. If after reading it you believe that the Higgins Day team is worth contacting, don’t hesitate to pick up the phone and call 01628 778 733.
Cut Back on Costs – There are a number of associated costs that Windsor and Slough businesses will be subject to if handling payroll in house. Firstly, there’s the need to recruit or train staff with the necessary skills to manage payroll accurately and efficiently. Next, there’s the ongoing wages you’ll need to pay said staff. You should also consider the cost of payroll software you might require, which is often quite expensive. Add it all up, and you’ll find that the vast majority of Windsor and Slough SMEs can save money by outsourcing payroll management to a team of chartered accountants, like Higgins Day.
Save Time – You’d be surprised at how much time payroll management can take up, even if your business has a relatively small workforce. Most businesses just don’t have the luxury to be able to take themselves or valued co-workers away from their essential day-to-day tasks for multiple hours at a time. Our Slough and Windsor clients find that by handing their payroll duties over to our chartered accountants, they have more time to work on developing their business and keeping everything running like a well-oiled machine.
Accuracy & Compliance – Human error is an inevitable part of the work environment, but mistakes in payroll can irritate staff (especially if made regularly) and take time and resource to put right. Likewise, errors and a failure to comply with HMRC legislation can mean legal trouble for your business. This latter aspect of payroll management is often overlooked. Did you know that you are obliged to make 76 declarations to HMRC each year if you issue weekly and monthly payments? Not only does this take up a lot of time, but it means that there are many opportunities to make mistakes. Payroll professionals, like our chartered accountants near Slough and Windsor, get everything right first time, giving you peace of mind and protecting you from falling foul of new financial regulations.
Flexibility – What happens if the sole staff member in charge of payroll administration leaves your business, is off sick or otherwise has to take a leave of absence? You’ll be left with a disgruntled and unpaid workforce, and the need to train someone else on the ins, outs and intricacies of this niche area of business. Slough and Windsor businesses that have our chartered accountants handle their payroll can rest assured this eventuality will never befall them. We’re flexible, and more importantly enable you to be flexible.