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How outsourcing can help you manage payroll

How outsourcing can help you manage payroll

Payroll has a reputation for being complicated and tedious for many, if not all, small business owners. It could be said that payroll is a waste of time since it takes away from growing your business – yet at the same time, it is incredibly important as it keeps employee morale high when wages are paid on time without error.

If managing your payroll is distracting you from running your business, here are some reasons why you should leave the payroll to the accountants.

Compliance made easy

When you have staff in your company, you must be registered as an employer with HMRC. Once you’ve done this, all payments must be accurately recorded. In other words, there must be evidence of every payment and deduction you’ve made. When you hire a new employee, HMRC must be made aware using the RTI system. Outsource payroll services can make this a breeze without you having to get involved.

Keep tax codes up to date

The PAYE system is rather complicated and employees are generally unaware of how it works. So, if they receive a lower wage one month and their tax code hasn't been updated, they’ll assume you’re to blame instead of the incorrect tax code.

Set a pay schedule

It’s very important that you know when and how often your employees will be getting paid. Don’t forget to check this against the British regulations and laws for your area to ensure you’re meeting the minimum payday requirements. The HMRC legislation around payroll is constantly changing. So, you need to ensure you stay up to date to avoid legal issues or penalties. It’ll also be helpful when working on end-of-year tax returns.

Payroll is subject to all kinds of fluctuations and inaccuracies can damage team morale as well as cause problems with HMRC. That's why you may find it easier to automate your payroll instead of doing it manually. Not only will this reduce the chance of mistakes, but will also help save you a lot of time too.

Remember: you also have a business to run

You don’t need an in-house accounting department to run your business’ finances. On the other hand, you don’t need to do it all yourself either as managing payroll takes a lot of time and resources. Let us take care of this for you, so you can work on building strong relationships with your clients and employees, and help drive your business forward. Give us a call at Taxcare Accountancy on 0208 478 3383, or, alternatively, drop us an email at info@taxcareaccountancy.co.uk for all your payroll needs.

Affordable Pay-monthly Packages

We offer a full range of services to limited companies, solo trader, partnership, charity, LLP, CIC as well as individuals. We have arranged our services into easy to choose packages that suit your needs.

Start-up
£ 60  / Month (+VAT)

This price plan is suitable for the start-up companies who are not VAT registered.

  • Year-end accounts preparation and submission
  • Corporation Tax returns
  • Payroll & RTI submission for 1 employee
  • Personal tax return [salary & dividends income only] (Free)*
  • File confirmation statement (annual return) with Companies House
  • Reference letters for Director only (Free)*
  • Assisting with correspondence from HMRC and Companies House
  • Unlimited face to face advice and email support
  • 1 Director
  • 1 Shareholder
  • Annual turnover should be less than 80K
Limited Company
£ 100  / Month (+VAT)

This price plan is suitable for the companies who are VAT registered and turnover is less than 100K with a couple of employees.

  • Year-end accounts preparation and submission
  • Corporation Tax returns
  • Monthly payroll including RTI submission for up to 2 employees
  • Personal tax return [salary & dividends income only] (Free)*
  • File confirmation statement (annual return) with Companies House
  • Reference letters for Director only (Free)*
  • MTD VAT returns submissions – quarterly
  • Unlimited face to face advice and email support
  • 1 Director
  • 1 Shareholder
  • Annual turnover should be less than 100K
Company Pro
£ 150  / Month (+VAT)

This price plan is suitable for the companies who are VAT registered; turnovers are more than 100K and have 2 directors and shareholders.

  • Company formation (if required)
  • Year-end accounts preparation and submission
  • Corporation Tax returns
  • Monthly payroll including RTI submission for up to 5 employees (Free)
  • MTD VAT returns submissions – quarterly
  • Personal tax return [salary & dividends income only] (Free)*
  • File confirmation statement (annual return) with Companies House
  • Reference letters for Director only (Free)*
  • Unlimited face to face advice and email support
  • 2 Directors
  • 2 Shareholders
  • Annual turnover should be less than 200K
Company Premium
Let's talk.  / 

This bespoke price plan is suitable for the companies who are VAT registered, with more directors, shareholders and employees. Also, annual turnover is more than 200k and requires further bespoke services.

  • Company formation
  • Year-end accounts preparation and submission
  • Corporation Tax returns
  • Monthly payroll including RTI submission all employees
  • MTD VAT returns submissions – quarterly
  • Personal tax return [salary & dividends income only] (Free)*
  • File confirmation statement (annual return) with Companies House
  • Reference letters for the all Directors (Free)*
  • Unlimited face to face advice and email support
  • Flexible and can be discussed
  • Annual turnover should be more than 200K

Add on Services

  1. Personal Tax Returns

    This price plan is suitable for self-employed individuals, landlords and those who need to submit Self-Assessment Tax Returns.

    If you need to submit the Self-Assessment Tax Return, we can offer you competitive prices starting from £150 + VAT. Price can vary according to your nature of income. Please contact us for more details.

  2. Tax Investigation
  3. Business Legal Support
  4. Company Formation
  5. Business Mentoring
  6. ARA accounting services for ATOL & ABTA travel companies

    Our commitment to you is that we’ll ensure all the information we’ve submitted to the Civil Aviation Authority is up-to-date and accurate. 

Taxcare Accountancy was formed to provide Small & Medium Businesses with an affordable, proactive and professional accountancy services…