Managing the payroll in-house often requires an individual, or a team, with a thorough knowledge of workings of the PAYE tax system. If your business doesn’t have these skills in-house, you can organise your payroll by outsourcing it – typically to an accountancy firm or bookkeeper such as Clear Group, based in Balbriggan Co. Dublin, Ireland.
Apart from removing the regular stress that payroll compliance inevitably brings, outsourcing your payroll can be a perfect business solution that can bring considerable benefits in terms of lower costs, efficiency and attaching payroll expertise to the business
Advantages of outsourcing your payroll
Gives you peace of mind
By outsourcing your payroll to a trusted payroll provider, you and your team can get peace of mind, resulting in a better focus on company growth and improved productivity.
Using a trusted, reliable and professional provider to process your payroll, will give you, and your staff, the reassurance and confidence that your payroll responsibilities are being properly and efficiently discharged.
Minimises your risks of fines, penalties and inspections
The financial penalties for failures to meet PAYE compliance regulations, especially under the latest regulations, can not only be severe but will involve wasted management time, employee dissatisfaction and vulnerability to costly Revenue Inspections.
It is difficult, especially for smaller businesses, to engage, train and retain suitably reliable, qualified or skilled staff, and inadequately trained staff can lead to expensive mistakes and penalties for non-compliance – new and part-time staff, especially, leaves you extremely vulnerable to be penalised.
Saves you substantially on software, manpower and consumables costs
Software costs– Payroll programs have an initial acquisition and installation cost. Not to forget the ‘learning curve’ and ‘time costs’ as your company’s staff grapple with how the program works. Then add that to the hassle of adding the annual updates (tax codes, rates, etc) and annual software support subscriptions. The overall cost of maintaining a payroll in-house can become more expensive than you might realise.
Staff costs– Payroll staff costs can be considerable when including their wages, cover for holidays, sickness, maternity, etc. . Inadequately trained staff can lead to expensive mistakes and penalties for non-compliance – new and part-time staff, especially, leaves you extremely vulnerable and this is where payroll outsourcing takes the upper hand.
Security– Outsourcing also takes away the time and hassle of regularly backing up the payroll data along with the internal security issues relating to the handling of sensitive individual records.
Leaves you free to do what you do best – run your business
Why get involved with the ever increasing load of regulations that make payroll operation exceedingly complex and time-consuming. Outsourcing your payroll frees up your time to focus on what you are best at – on what’s important in your business and on what really adds value to your bottom line.
Saves time and is efficient
When you outsource payroll to a company like Clear Group, we will do the job efficiently and cost effectively. One of the top advantages of outsourcing payroll is it saves time. When you outsource, your staff will be free from doing payroll related work like calculating pay and deductions and spend their time on more value generating activities within your company.
Why not call us today so we can make a real difference to your business.
Call Tom to discuss on 01 9680663 or click here