6 Key benefits of outsourcing payroll to an experienced team

Have you ever considered outsourcing payroll to an external payroll professional? Keep reading to discover our 6 key benefits of doing just this.

As a small business owner, payroll can often be stressful. It’s one of the most important accounting tasks you need to undertake each month but can be extremely time consuming.

You will already have the day-to-day tasks involved in the smooth running of your business whilst continuing to grow and develop your company, keeping track of legislation and planning for the future.

• Cost Effective – outsourcing Payroll means you don’t need to hire a member of staff to undertake the job, saving you money and office space.
• Expert help – Rules, guidelines and laws are always evolving, and it can be difficult staying on top of it all. By outsourcing payroll you will have access to expert help, meaning you can have the peace of mind that you are fully compliant with HMRC and any new regulations that come into place.
• Keep on top of legislative changes – Payroll is never straightforward this can include maternity leave , paternity and shared parental leave along pension processing which can be complicated. Using a virtual finance team and outsourcing your payroll will ensure that all your staff are paid on time with all necessary NI, tax, pension contributions are calculated accordingly.
• Environmentally friendly – by outsourcing payroll and implementing this function virtually, you reduce office space and facilities which will help to reduce your carbon footprint.
• Up to date – Advances in technology means that accounting functions such as this can be done virtually and by outsourcing your payroll, you will be kept up to date and your staff will be paid on time.
• Proactive – your virtual finance team will flag up any legislation changes relevant to your employees that might affect your business in advance and will support you.

How can Mercer & Hole help with outsourcing payroll

We will meet with you to get to know you and your business. This is so that we can provide you with a service that is tailor-made to your specific needs. This way we can also work out a framework so that you know what to expect from your virtual finance team. As we continue to work together, we can adapt the service we provide to take into account any changes to your business.

If you are interested in outsourcing payroll or any other service we offer contact a member of our Virtual Finance team today.