For SMEs, payroll processing can be a time-consuming, costly and complex process. Keeping up to date on employment and tax legislation alone can divert resources away from your core business. Payroll outsourcing offers a cost-effective alternative that removes the burden of payroll processing and frees up resources to focus on business growth.
Naturally, business owners can be reluctant to spend money on a function that is already completed internally. However, payroll outsourcing can be a cheaper and more effective solution that scales up easily as your business grows.
The advantages of payroll outsourcing
The advantages of payroll outsourcing typically include:
- Freeing up internal resources and time to focus on your core business
- Reducing training costs for in-house teams
- Removing the cost of buying and maintaining costly payroll systems and software
- Improving the accuracy of payroll processing and minimising mistakes
- Maintaining compliance with employment and tax legislation.
Learn more about Payroll outsourcing services.
Payroll outsourcing with Consilium
Consilium’s payroll outsourcing service offers a range of benefits to businesses, including:
- E-payslips: cost savings on postage, printing and processing
- Easy setup with no software to install
- Reduces the carbon footprint of your business
- Employees can access their payslips 24/7
- Increased data security
- Ensuring that your employees are paid correctly, on time and reported accurately to HMRC and the pension regulator.
Payroll outsourcing in the UK is commonly offered by two types of providers: a dedicated payroll processing company; or a firm of chartered accountants like Consilium. In both cases, SMEs can benefit from the advantages mentioned above.
Unlike a payroll-only firm, Consilium Chartered Accountants offers payroll clients the added benefit of access to additional business expertise across Accounting, Audit, Cloud Accounting, Tax and Corporate Finance.
To discuss your payroll requirements, contact our Head of Payroll, John McSheffrey.