BACS Payroll Services
BACS is a secure and easy method you can use to make payments by electronic transfer directly into your employees’ bank accounts. Today, a large percentage of the UK workforce is paid via this method.
BACs means you don’t need to write out cheques and your employees don’t have to go to the bank then wait four days for their cheque to clear. BACS gives you much greater control over your cash flow, because your bank and your employees’ banks are debited and credited the same day.
As part of our managed payroll service we will help you with the BACS application form to submit to your bank. Once your BACS facility is up and running you can make all kinds of payments by BACs – not just wages. We can also pay your PAYE Taxes to reach HMRC by the 22nd of the month ensuring you never run the risk of incurring late payment penalties again.
What will it cost you?
Using our BACS payment service means there’s no additional cost to you for submitting the BACS file. Your bank charges will stay the same as they are right now.
Banks do charge a set up fee to provide you with a service user number if you don’t already have this in place and you also need to be aware that setting this up can sometimes take the bank up to six weeks. But you will soon recover this set-up fee because paying by BACS is cheaper than writing cheques.
