Without a full time payroll manager employed by your business it can be very complex keeping up with current legislation and meeting the demands of your employees. Payroll legislation and now the requirement to offer a pension to employees through the Auro-Enrolment scheme is a time consuming exercise which means you may be wiser to outsource the function so you can concentrate on what you do best.
With a fully managed payroll function that is tailored to suit your needs you can continue developing your business. We can give you a tailor made solution with our experienced team on hand whenever you or your employees have a query.
Our team has over 25 years’ experience in small and large payroll numbers. Our efficient, friendly and professional service ensures that both you and your employees are looked after.
A happy work force is a productive work force and that includes your sub-contractors as we can also complete and submit your Contractors monthly return.
A change to workplace pensions was introduced in October 2012 and whilst most have kept half an eye on the changes we’re sure that the majority have taken their eye off completely.
It appears that thousands of small businesses are believed to have missed the legally binding deadline to introduce occupational pensions for their employees and it has been reported that The Pensions Regulator has started to dish out fines. The Pension Regulator checks fulfilment by comparing PAYE with auto-enrolment data and can issue compliance notices, penalty notices and fines for those failing to adhere to the rules. The fixed penalty for non-compliance is £400 followed by daily penalties of between £50 and £10,000, depending on the number of employees.
Take this obligation and add it to RTI (Real Time Information) submission requirements of HM Revenue & Customs, the introduction of shared parental leave amongst many other obligations and you can understand why a number of businesses are outsourcing their payroll function. If you’re lucky enough to have an accountant that processes your payroll, you should still ensure that they are equipped to manage your auto-enrolment, RTI and other legislative requirements. Has your payroll provider told you what your staging date is?
You can find your staging date by entering your PAYE reference HERE.
SeaMount Business Services Ltd have partnered with an independent pension provider who can walk you through the process. This added to our Payroll function will take the heat off you, the employer and ensure that you’re fully compliant.
* from 1 April 2020