In-house vs. Outsourcing

You can of course run and manage your own payroll in house. But more and more companies and small businesses are starting to outsource their payroll function and the reasons all tend to boil down to two things: Time and Cost.

Time Saving

Outsourcing payroll means:

 
•    You or your staff will no longer need to spend time keeping up to date with complex HMRC regulations and statutory requirements

•    No time spent every month processing your employees’ payroll

•    No year-end form filing

•    No time spent on HMRC correspondence. You avoid dealing with HM Revenue and Customs and other government agencies

•    More time for you to spend concentrating on your business

Cost Saving

Outsourcing payroll means:

•    You agree all costs in advance -  budgeting is made simple

•    No expense in purchasing and maintaining payroll software and stationery

•    You don’t require any payroll expertise and therefore you have no training costs and avoid the risks associated with the person you trained leaving

•    No internal IT and training costs of running your own payroll department

•    BACS payments are less expensive than bank online payments

•    No staff requirements for holiday and sickness cover