What Is A Payroll Service? How To Choose Good Payroll Services In The UK
What is a Payroll Service?
There are agencies that take up the job of payroll management on behalf of other businesses and organizations for a certain service fee. This is known as a payroll service, and this facility frees up a company to focus more on its core functions rather than dealing with Payroll Services in the UK organizational issues like payroll management. Many businesses and organizations in the UK are outsourcing the payroll management job to reliable payroll services these days.
How To Choose Good Payroll Services in the UK?
There are many online companies that provide Payroll services on the Internet for off-shore clients. However, you need to choose a company that complies with all the rules and regulations laid out for organizations in the UK.
Here are a few criteria you can use for a trouble-free outsourcing experience while choosing third party service providers.
The service should be provided at an affordable price that makes it justifiable to outsource this work to a third party service
The company needs to set up a full-fledged managed payroll service that handles all aspects of your payroll needs
Detailed pay slips should be emailed or posted to you for each employee in your organization
All CIS payments should be calculated and administered every single month
Registration of New Employers with the HMRC should be offered
Holiday Pay, Pensions, P38 for Students, P46 for new comers, P45 for departing employees, P32 monthly report of PAYE and NIC Liability, and year-end administrations like p60’s, P14’s and P35’s need to be taken care of
The company needs to be able to support weekly, fortnightly, 4-weekly or monthly payroll calculations according to your specific preference
The service should be able to work from both gross to net pay figures or from net to gross
Support for open pay slips, sealed pay slips as well as ePaySlips in HTML and PDF formats need to be offered
The service should support sick leave, Maternity, Paternity, and Adoption Pay Calculations, Pension Contributions, Holiday Pay and Accruals, and Student Loan Deductions
Attachment of earnings like court orders, council tax, statutory redundancy pay calculations, child maintenance, give as you earn deductions, save as you earn deductions, director’s pay, redundancy, special NI rules compliance, full payroll and managements reports, BACS import file and Autopay administration if required, hosted HMRC compliance inspections need to be supported