The Benefits to your organisation of outsourcing your payroll are:
- You know all costs in advance – this makes budgeting simple
- You save time and money
- There is no administrative burden that is associated with managing your own payroll
- You don’t need to worry about changes in payroll legislation and statutory requirements – these are accounted for as part of the outsourced service
- You avoid dealing with HM Revenue and Customs and other government agencies
- There are no IT and training costs of running your own payroll department and you don’t have to rely on your IT department for support
- You have no need for any capital expenditure – no software, hardware or stationery to buy
- You don’t require any payroll expertise
- You avoid the inconveniences and costs of covering payroll staff on leave – either unplanned (sickness) or planned (holiday) leave can mean you need to organise cover
- Confidentiality, processing accuracy and meeting payment deadlines
- All standard, or company specific reports are designed to meet your organisation’s exact requirements now and in the future
- You have peace of mind knowing that every aspect of your Payroll is being taken care of by professionals
Each payroll period your ITexpress Payroll Services team will:
- Process your weekly/monthly payroll
- Load all payroll input data, amendments and tax code changes onto the payroll system and will calculate any back pay and adjustments
- Check the payroll output for accuracy and verify accordingly
- print payslips and produce extensive management and costing reports which are dispatched with any other payroll output for your internal distribution
- Create the BACS transfer for payments and verify that it is processed correctly
Your ITexpress Payroll Services team will also:
- Take over responsibility for liaison with HMRC for submission of year end data
- Respond to any payroll queries raised by your Payroll Contact
- Prepare all P45s, P60s, send P14s to HMRC, and answer all employee queries on P60s/P45s via your designated company payroll contact.
How the system works
A dedicated agent will take all required details for each employee, the client wishes to set up on the system, this will include:
- Hours worked
- Bonuses
- P45
- P46
- Student loans
- Statutory leave
- Annual leave
- Shift patterns
- Attachment of Earning Orders
- P11D expenses and benefits
- Other deductions e.g. loans
We input all these details to the system, which then provides a report for the client showing the employees:
- Gross pay
- National Insurance
- Tax
- Net pay
- Holidays (used and taken)
As well as providing pay slips for each of the employees, a number of reports are generated for the client including BACS and statutory returns at the end of each month, advising the client how much PAYE needs paying for each individual employee. Annual reports collating all the relevant information are also produced.