In recent years, payroll has become more burdensome on businesses with the introduction of regular electronic filing and auto-enrolment compliance. This is likely to increase when state benefits such as tax credits are aligned to the payroll.
More and more of our clients are outsourcing their entire payroll function. Many have seen savings in staff and software costs, not to mention the peace of mind of knowing that staff will be paid on time and deductions will be calculated correctly every time.
Free up your time to grow your business or do more of what matters to you.
It has become prudent for businesses to have correctly trained and qualified staff to manage their payroll responsibilities. An added benefit is you will no longer need to recruit and retain accounting staff, or arrange holiday and sickness cover.
Our qualified staff can assist with the payroll process and also provide PAYE advice when required. This could be on the termination of employment or a strategy to offer tax efficient incentives to employees.
Benefits of using our specialist service:
- Fully analysed payslips (provided in security envelopes or via a secure online service)
- Different payment methods (including BACS)
- Statutory sick, maternity and paternity pay calculations
- RTI compliance for pay period and year end
- Auto-enrolment compliance and pension provider reporting
- Calculation of class 1 National Insurance contributions
- Assistance with P11D's (benefits in kind)
- Specialist payroll advice (employment termination, tax efficient benefits)
- Overseas payroll compliance
- We accept payroll information delivered by email and will process in 48 hours.
Different because you are
We pride ourselves on providing individually tailored services to our clients. Whatever your aspirations and priorities in business and life, we will be by your side with expert advice from local specialists. It is because your needs are unique, that the solutions we provide are distinct and personalised to you.
Get in touch to discuss how we can help lift the burden of payroll and the benefits to you and your business.
Can Lovewell Blake handle all my workplace pension requirements as well as the monthly payroll administration?
Our payroll services cover all necessary administrative requirements including workplace pensions or Auto-Enrolment as it can be referred to. We will submit reports to the appointed pension administrator when payroll is run and the deductions will be paid over directly. Employees will be contacted directly by the pension administrator so that between us we handle enrolment, opting out and the deductions.
Why should I outsource my businesses' payroll?
Outsourcing your payroll can allow you reduce the amount of time you spend on you regular payroll and pension duties, allowing you to have more time to focus on running your business. We are able to not only process your payroll but can also assist with processing payments, uploading payslips, managing pension duties and uploading the pension contributions, having a key focus on your business needs and bespoke requirements where possible. Our payroll bureau undertakes regular training to ensure their knowledge on the changing legislations and requirements are up to date. We are also able to ensure a continuity in payroll services in the event of holiday, sickness or departure of you inhouse payroll processor. Using a payroll provider to process your payroll can not only give you these advantages but it can also give you peace of mind that your payroll is being processed to the highest standard.
Should the owner of a small business be on payroll?
The payroll obligations of small businesses will depend on the structure of the business.
A common setup is for small businesses to operate as a limited company, with the owner usually holding both the position of shareholder and director of the company. As a shareholder, owners can extract profits as dividend income and, if appointed as a director or office holder, can also be remunerated through a salary or bonus package.
Any dividends paid do not need to be included on the payroll but are subject to income tax at the dividend rates and will need to be declared on a self-assessment tax return. Directors are classed as employees and any remuneration paid is subject to tax and National Insurance as employment earnings. Where the remuneration paid exceeds the National Insurance Lower Earnings Limit (LEL), you will need to register as an employer with HMRC and operate payroll. It may be beneficial to pay dividend and tax, though you should seek advice to obtain the best tax position.
For sole traders and partnerships, any profits of the business are usually taxable on the proprietor/s as self-employed earnings and do not need to be included through payroll. Payroll may still to be operated for any employees of the business.