Managing payroll can be a stressful experience for any type of business, small or large. It’s crucial to have an efficient payroll function in place to solidify the success of your organisation. We recognise that constructing a robust payroll system internally can be challenging, but have you considered outsourcing? FT Pay, our payroll bureau, houses an experienced team of payroll operators, who are on-hand to help you maintain your payroll, meet statutory obligations and ultimately pay your staff on time!
All we need from you is the monthly gross pay of each employee, with any commissions or adjustments, and then we can do the rest! As part of your outsourced payroll services, we will:
- Calculate net pay, PAYE and national liabilities
- Summarise and advise you of the liabilities due to HMRC
- Provide payslips and year-end P60s
- Provide BACs payment reports for uploading to your bank
- Prepare any in year P45s or P38s for joiners and leavers
- Calculate any statutory maternity, paternity or sick pay
- Liaise with your workplace pension provider to obtain/calculate the pension deductions and process these through the payroll
- Submit the agreed payroll data online to HMRC in accordance with the RTI requirements
- Where necessary, facilitate a “pay away” service
Payroll Services: Benefits of FT Pay
By choosing FT Pay to manage your organisation’s payroll, we can guarantee a wealth of benefits for your business to alleviate any concerns you have.
- Control and Oversight
We have a high level of control and oversight within our in-house payroll team over the entire process. We can ensure compliance across the whole system which includes precise calculations of net pay, PAYE, and national liabilities, reducing the risk of errors and ensuring compliance with tax regulations.
- Confidentiality and Security
Our management allows for enhanced control over sensitive employee data. This can contribute to increased confidentiality and security measures, reducing the risk of data breaches or unauthorised access to payroll information.
- Real Time Reporting
Our system provides a real-time summary of liabilities due to HMRC, allowing businesses to stay informed and make timely payments, thus avoiding penalties and maintaining compliance.
Additionally, with our team, businesses can quickly adapt to changes in personnel, tax regulations, or company policies. This gives you immediate access to relevant information and the ability to communicate directly with other departments facilitates a faster response to any payroll-related adjustments.
If you feel as if your company would benefit from our payroll services or would like some more information please contact, Fabrice Legris, our Commercial Client Director: email@example.com