National payroll week is a campaign established by CIPP and runs from 2-6 September and aims to highlight the work done by payroll professionals.

Employee satisfaction and legal compliance are hugely important to any business – whether you have 2 staff or 200, without doubt they are all reliant on your payroll being right!

The payroll team at Simpson Wood are dedicated to supporting our clients with payroll services and are constantly on the lookout for ways to improve our offering.

Employee Satisfaction and Retention

A well-managed payroll system goes hand in hand with satisfied employees.
Employees like to feel safe in the knowledge that they can rely on their salary payments to be made regularly and on time with all deductions taken care of and easy access to important documents such as payslips and P60’s.
A streamlined payroll process demonstrates professionalism and commitment to a company’s workforce whilst also ensuring trust between employers and employees.

Compliance with Complex regulations.

Whilst there are many ways to introduce automation to your payroll system you will still need a trained eye to review calculations.
This can include calculating compensation for variable salary employees, holiday pay, bonuses and even maternity allowance as well as many others.
Having a trained professional on hand to ensure your payroll is correct, as well as ensuring you are claiming for allowances, is an essential function in your business.

Accurate Financial Reporting

Without accurate reports it would be impossible to make any strategic decisions.
A well structured payroll system has the capability to generate reports that assist with budgeting, forecasting and performance analysis.

Summary

The impact of effective payroll management extends far beyond just distributing payslips.
National Payroll week is all about celebrating the UK’s payroll professionals and recognising the profound impact their commitment and expertise plays in nurturing business stability and success.

As we can see from some of the examples given above, without dedicated payroll professionals businesses would suffer.
A strong and effective payroll service should never be underestimated.  Businesses that are unable to manage payroll internally very often outsource the service.

Why outsource payroll

We cover all areas of payrolling including: Pay As You Earn(PAYE), National Insurance (NI) and Construction Industry Scheme (CIS) tax.
Many businesses prefer to outsource to us because:

• The calculation of PAYE and NI for directors and staff can be time consuming
• Keeping up to date with the changes in legislation can be difficult
• Employee information is sensitive

Whatever the size of your payroll, whether it’s monthly or weekly our experienced team will set up the systems to administer your payroll.
We can handle BACS payments if you need us to, and all payslips are sent to employees digitally through our secure portal.

If you would like assistance with your business payroll function and would like to speak to us about the payroll services we offer please contact our friendly payroll department on 01484 534431 to discuss your requirements.