Worried About Running Payroll?

Are you worried about running payroll? With ever-changing regulations, running payroll effectively is becoming increasingly complex. At HB Accountants we’ve found that these are the issues that matter most to our business clients from Hoddesdon to Hertford and Ware to Welwyn.

Typical payroll priorities

Businesses in Hertfordshire and surrounding counties quite rightly worry about running their payroll correctly so that employees receive the pay they were expecting, and legal obligations to HMRC are met.

Timely, accurate pay

Every responsible employer naturally wants accurate payslips that are issued on time with salaries paid to employees on time. This is the biggest concern which clients have when it comes to payroll. Not surprisingly, by outsourcing this worry is alleviated. Quite simply, using HB Accountants specialist payroll service, means that our clients can focus on other pressing business issues and leave running the payroll to us.

Secure payments and precise reports

For those with an in-house HR team or specialist, our payroll service is all about implementing their instructions accurately and completely when it comes to issuing payslips or reporting back to HMRC.

Accurate and compliant calculations

For those who outsource their complete payroll function all aspects of payroll must be correctly handled. This includes changes to personnel and calculations for PAYE, National Insurance Contributions, student loan repayments and statutory sick pay and maternity/paternity/adoption pay (SSP, SMP SPP, SAP).

HMRC notices and submissions

For all employers it’s an absolute priority to report to HMRC with a Full Payment Submission (FPS) so that payroll records are up-to-date and the business is not incurring charges for late notification. Monthly reports including joiners, leavers and new workplace pensions with further details such as company cars reported at year end. We deal with all the relevant HMRC forms – P6, P11, P11D, P14, P32, P35, P38 and P45- P46, P46 (car) and P60s – so that businesses don’t have to administer these details.

Data security

Since the introduction of the General Data Protection Regulation (GDPR) businesses are concerned that their payroll service pays attention to data management standards. At HB we keep ahead of the latest advice when it comes to record keeping, data security and the prevention of cyber breaches in relation to sensitive personal information.

Auto enrolment pensions

From 2012 to 2018, all employers had to begin to enrol eligible workers in an auto enrolment scheme, with the new requirements causing concern for some. Whilst HB Accountants is not a pensions adviser, we do support our clients when it comes to auto enrolment of pensions and undertake administration of auto enrolment schemes such as calculating contributions and monthly reporting to the pension provider on time.

Changes in the law – and changes to calculations

Every April in line with the new tax year, businesses appreciate having the backup of an outsourced payroll service even more keenly since this is when new legislative rules and tax code changes come into force. By outsourcing payroll, our clients can be assured that we’ll take the necessary steps to implement the new rules, allowances, codes and so on, as a matter of course.

Take a look at the HMRC’s online page on Payroll

Outsource payroll for peace of mind

HB Accountants provides a payroll management service to organisations in Hoddesdon, Broxbourne, Ware, Hertford and across Hertfordshire, Essex and Cambridgeshire. We deal with businesses of all sizes, from small independent businesses to limited companies with over 100 employees. We use HMRC digital compliant software and can prepare your payroll each month, tailored to your company’s individual needs.

Check out our other blogs regarding cybersecurity within payroll here

To find out more about our payroll services, please contact JaneD@hbaccountants.co.uk or call 01992 444466.