#3
Payroll outsourcing

Save time by outsourcing your payroll

If you’re currently using an off-the-shelf payroll solution, the thought of outsourcing your payroll provision to a managed provider, probably sounds pricey by comparison. But outsourcing your payroll to a managed service provider could actually save your business money. How? By reducing the risk of costly mistakes. Think shared parental leave calculations, statutory sick pay changes, calculating holiday pay, complying with off-payroll working rules, gender pay gap reporting, apprenticeship levy... and the list goes on!Managed service providers ensure their software is always up to date with the latest legislation meaning you don't need to worry about the risk of Employment Tribunals and the associated costs.

The benefits of outsourced payroll

Outsourcing your payroll means you enjoy the benefits of:

A dedicated payroll account manager and a team of payroll experts to contact for advice and support.
Software that automates many of your complex payroll calculations.
A payroll solution that keeps you compliant with changing legislation.
The removal of the risk associated with a single point of failure i.e. if you only have one person who can process the payroll; what happens if they’re off sick?

Further, could the time an employee currently spends each month processing the payroll be better spent elsewhere? And will this saving offset the cost of a managed service?

Let Moorepay do the heavy-lifting when it comes to your payroll, so you can focus your attention on other areas of the business.

Read about our outsourced payroll now.

The ‘in-house’ risks

Here are just some of the things that incur financial penalties from the HMRC:

Late payment penalties on PAYE amounts that are not paid in full and on time, for instance: monthly, quarterly or annual PAYE student loan deductions.
Construction Industry Scheme (CIS) deductions.
Class 1 National Insurance contributions (NICs).
Late payment of Employer Payment Submission (EPS) or Full Payment Submission (FPS) - a fine for this could cost you up to £400 per month.

Fines from HMRC

For companies with over 250 employees a monthly fine of £400 is charged for a late payment of the Employer Payment Summary or Full Payment Submission