When a business decides to outsource its payroll administration, it will select a payroll bureau to manage its operations. Some of these companies operate outside of an accounting firm, other companies solely manage payroll, however they should be required to be certified financial experts.
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Bureaus Manage Payroll
Payroll bureaus typically offer to calculate the pay of a client's workforce, and then produce electronic or sealed pay slips. Bureaus manage payments directly to bank accounts through BACS, generate payroll management reports, and create a nominal ledger for your accounts department.
This frees up valuable time and a client's trained staff so that they can focus on more important matters, like making a business grow. In addition, payroll bureaus are HMRC-compliant, thus eliminating costly payments later.
Payroll Bureaus also calculate deductions and payroll variations due to student loans, statutory sick pay, maternity/paternity, and pension. In addition, they produce year-end returns such as P60s and P35s.
Bureaus Also Host Payroll
Some payroll bureaus can not only manage your payroll administration, but they can also host your servers. This means that the data is stored at their facilities on an off-site location, where the servers are monitored with full security, and multiple power sources.
Payroll bureaus thus free up IT staff costs, as well as those incurred for hardware maintenance and repair, instead outsourcing the server hosting to a payroll bureau. Prices can vary, many companies, however, save money through payroll bureaus. Should a client only have five employees, for example, some bureaus offer limited services for only £20 a month— although extra services might incur higher costs.
Top Payroll Bureau Services
These are some of the top payroll bureaus that operate throughout the UK.
Pay Check has been in business for 25 years and is still run by the same founders. They have a wide range of businesses with over a thousand clients on their books. This company is part of HMRC's Real Time Information (RTI) scheme.
They offer a full payroll service including BACS salary payments and year-end electronic reporting to HMRC, starting at only £20- £25 a month.
Roskear Services London
In the business for 25 years, Roskear Services London has experience running the payroll administration for hotels, IT firms, restaurants, car home operators, estate agents, security firms and dentists among others.
Their full payroll service includes P45 and P46 filing, as well as maintaining a full year to date payroll file in case of audit. They also carry out payments via BACS, and post pay slips and pension contributions, with prices starting around £23 per month.
Based in East London, Quick Paye specialise in business outsourcing, offering a number of payroll services for small businesses. They act as a liaison between their clients and HMRC, producing reports upon request, providing monthly and annual summaries, and processing BACS payments.
Numerion is a firm that is comprised of chartered accountants offering payroll services with a specialisation of personal attention, including no obligation, and free quotes to prospective clients.
They offer all the services from any payroll bureau, including processing wages and salaries on time, calculating deductions and pension services, or bonuses from overtime or pay rises. Numerion also generates pay slips and ensure finances are consistently accurate.
Furthermore, they see themselves as an in-house payroll department—though an outsourced payroll bureau. This means they notify clients of changes in legislature and how it could affect their business, providing guidance on tax and employment legislation. They have experience with small and medium-sized businesses but are probably not suited to particularly large businesses.
1st Contact is a smaller payroll bureau that provides a simple price quote system on their website for prospective customers. This bureau can prepare payroll returns on a monthly, fortnightly, or weekly basis—depending on what's easiest for the company to process.
Their main feature is a specialised SME department that helps small businesses complete their payroll returns as efficiently as possibly, fully aware that each penny matters to a startup or small business.
Compare Payroll Bureau Options Today
There are many factors in choosing a UK payroll service bureau, and the size of the company and its specific market often dictate the needs. Some markets require lavish attention, others can augment their own in-house payroll for a modest monthly fee.
Comparing top UK payroll providers is the best way to find a deal for you - Approved Index can help here; we use your specifications and details to put you in contact with up to 4 of the best suppliers.
Comparing quotes with Approved Index is free, quick and easy, and it can save you a great deal.
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