| Payroll involves a lot of consideration. It is a complex | | | | regulations on holiday pay and required that by April |
| process for any business but for small businesses with | | | | 2009 all employees would be entitled to 5.6 weeks. It is |
| few employees it can turn out to be a huge burden. | | | | time consuming for any small business owner to |
| Any business who has employees must have some | | | | research all the information required to ensure the |
| form of payroll processing procedures in place. If you | | | | business is adhering to all regulatory and legal guidelines |
| employ one person are you then going to have to | | | | and accurately calculating employees pay. The time |
| employ one more person to deal with the payroll | | | | spent carrying out these tasks could be much better |
| implications of being an employer? | | | | spent concentrating on the core product or service |
| Any business considering outsourcing something that | | | | provided by the company. |
| can actually be done in house will consider the costs | | | | There are a huge number of companies who provide |
| involved first and foremost. The benefits of | | | | payroll services. Most companies will provide their |
| outsourcing in some areas for small business will in the | | | | payroll outsourcing services on a fixed fee basis for |
| long run prove to be beneficial. | | | | an agreed number of staff. Businesses also have the |
| There are various elements involved with payroll. | | | | option of a fully managed service or a bureau service. |
| There are many legal obligations that must be adhered | | | | With the fully managed option everything is taken care |
| to when you become an employer. As well as basic | | | | of all you have to do is provide the employees details. |
| salary calculations other payments have to be taken | | | | With the bureau option you can retain some control |
| into consideration, for example, pension payments, | | | | over certain aspects of the payroll with which you feel |
| student loan repayments, sick pay & holiday pay | | | | comfortable. |
| to name but a few. A whole number of possible | | | | If you are a small business considering taking on |
| payments have to be considered and the legislation on | | | | employees for the first time and are concerned about |
| such payments needs to be monitored in case of | | | | implementing a payroll system consider the option of |
| change which can occur regularly. As an example, in | | | | outsourcing, in the long run you may save a |
| October 2007 the Government changed the | | | | considerable amount of time and money. |