Paying your staff accurately and on time is a critical business function, but running payroll can be a real challenge for a small business. That’s why many businesses choose professional payroll services.
Welcome to Archimedia Accounts, payroll experts
At Archimedia Accounts, we provide payroll services to businesses throughout Nottingham. Our highly experienced payroll team has over 15 years of experience in payroll services and can help you to save time and money.
UK payroll is complicated and time-consuming. We can process payroll on your behalf to ensure your staff are always paid accurately and on time and that your business avoids non-compliance.
When you choose our payroll service, it includes regular tax-planning meetings so we can ensure you pay your staff in the most tax-efficient way possible. To find out how our payroll service can benefit your business, please get in touch today.
What is the function of payroll?
The main function of payroll is to accurately record and manage salary. This includes calculating each employee’s salary deductions, such as Income Tax and National Insurance contributions. Additionally, payroll includes calculating statutory pay and benefits, such as holiday time, pensions, maternity leave and flexible working hours.
Do I need to run payroll?
As an employer in the UK, if you have at least one employee that earns more than £123 per week (2022/23), you must register for PAYE and run a payroll to comply with HMRC regulations. It is recommended that businesses contact HMRC as soon as they begin employing people to ensure they meet their obligations.
Who is exempt from PAYE?
In addition to the above salary threshold, there are some exemptions. For example, salary payments to family members, volunteers and independent contractors. If you are unsure about your PAYE obligations, then outsourcing could be the right payroll solution for you.
Find out more about our payroll services and other outsourced accounting services by contacting us.
What is an outsourced payroll service?
Businesses are legally required to run payroll in most cases, which can be done in-house. Opting for an outsourced payroll service from a professional accountant simply means that it is done on your behalf for a fee. This could be combined with related services, such as bookkeeping and tax services, or as a stand-alone service.
Considering outsourcing your payroll? Then please contact the friendly and knowledgeable team at Archimedia Accounts.
Why do companies choose outsourced payroll services?
Under UK payroll regulations, it is the employer’s responsibility to ensure that their staff’s taxes are taken at source (this is, essentially, to prevent the need for every single employee in the country needing to submit a personal tax return).
Large businesses have the benefit of in-house Finance and Human Resources teams to manage payroll. But for a small business owner, payroll is complicated and time-consuming due to the sheer number of regulations and calculations that must be taken into account, along with varying tax and NI rates for each employee.
For many small business owners, outsourcing is the perfect solution to ensure efficient payroll processing and compliance with the law.
Payroll Outsourcing Benefits:
- Compliance – you can rest assured that your company stays on the right side of HMRC and fulfils its obligations as an employer. Your accountant will liaise with HMRC and keep up to date with ever-changing payroll legislation.
- Save time – consider the time you and your employees can save each month to focus on your business.
- Save money – outsourced payroll services are cost-effective, as you have access to an experienced accountant at a fraction of the cost of hiring one in-house.
- Tax savings – as accountants, we have a thorough understanding of the tax implications around payroll and can help you to seek savings.
Outsource your payroll to Archimedia Accounts and begin enjoying these benefits right away. Contact us for more information on our payroll services today.
Our outsourced payroll services
Our fully managed payroll services and auto-enrolment services include everything except paying your staff. Each month or week, we ask you for any changes in employee salary and any major changes to your workforce, and then we take care of the rest.
Our team will ensure that employee entitlements and benefits, such as holiday pay, sick leave, maternity/paternity leave, pensions, and bonuses, are calculated correctly. As part of our payroll service, we’ll also liaise with HMRC to keep informed of changes to tax codes and student loans, for example.
The final part of our payroll service is to provide you with a pay summary, which makes it easy for you to pay your staff.
Summary of our payroll service:
- Efficient payroll processing
- Administration of pension schemes
- Generating paperwork like payslips, P60s etc.
- Meeting all statutory deadlines, including submissions to HMRC
- Informing you in a timely manner as to how much PAYE & NI is due
Contact Archimedia Accounts about our payroll outsourcing services
Archimedia Accounts are trusted payroll providers in the Nottingham area with over 15 years of experience. As your payroll provider, we can relieve you of the administrative burden of payroll and ensure you fulfil your obligations as an employer to HMRC. We will carry out all of the necessary calculations to keep you compliant and ensure you know exactly how much you need to pay and when.
Archimedia is all about personal service. Our friendly team will work closely with you to understand your company and personal objectives, help you to save money and plan for business growth. You can benefit from our other related services, such as managing your tax requirements, bookkeeping and business planning.
To discuss your payroll requirements and to find out how our payroll services can help you to be more tax efficient, please get in touch.
FAQs
Are accountants responsible for payroll?
No, as an employer, HMRC holds you responsible for ensuring tax, NI and employee benefits are calculated correctly for every individual employee in your business. But an accountant can provide outsourced payroll services to help you understand the legislation of UK payroll, make the relevant calculations and take care of the monthly/weekly payroll process on your behalf.
Can I manage my own payroll?
Some business owners choose to keep payroll in-house under the supervision of a director or bookkeeper – but it’s not an option we’d recommend. Along with the risk of non-compliance, managing your own payroll can be a false economy when you compare outsourced payroll costs to that of hiring an in-house bookkeeper (who almost certainly won’t have the level of experience and expertise that a full-time accountant does).
Should I use an accountant or human resources specialist for payroll?
The benefit of using an accountant for payroll services over an HR services provider is that they are finance professionals and therefore have a deeper understanding of the tax implications of payroll on your business. Also, they can offer complementary services, such as bookkeeping, tax and VAT returns, so that all of your finances are dealt with efficiently and in one place.
What accounting software can you use for payroll?
There are many payroll software packages out there recognised by HMRC.
At Archimedia Accounts, we use Brightpay for all of our payroll clients, which helps make the payroll process efficient and error-free.