The number of people in work across Britain has fallen by 58,000 in the three months to September, and wage growth has slowed - an indication that the country’s labour market is deteriorating.
Despite reporting a record £1.65 billion in revenue last year, Facebook paid just £28.5 million in UK corporation tax. The social media giant reportedly made £96.6 million in profit in 2018, that’s up 54% and in spite of the Cambridge Analytica scandal. Their tax bill therefore rose to £30.4 but after adjustments, was lowered by £1.9 million.
According to recent research, more than 20% of people, that’s 1 in 5, have quit their jobs after receiving late and/or inaccurate payment. Roll this statistic out across the nation and that’s nearly 7 million employees.
Are you looking to outsource your payroll responsibilities? Then it’s important to consider all sides of the coin by understanding not only the many benefits offloading this process can give your business, but also any potential disadvantages as well. Our payroll specialists highlight 3 of the most important considerations to keep in mind when researching your options.
Outsourcing payroll to a professional service can save you time, money and effort, leaving you and your staff free to focus on the value adding areas of your business in order to grow and enhance your brand. Read on for four reasons businesses from all industries choose to offload their payroll responsibilities.
The IR35 or off-payroll working rules were introduced in 2000 to ensure fairness between those who work like an employee, but through their own limited company, pays approximately the same Income Tax and National Insurance as other employees.
“We can focus on providing accountancy services to our clients knowing that payroll is covered”
DE, Accountant
“In 2014 we outsourced our payroll to Essential Payroll and our experience has been excellent. We run a very demanding payroll with over 600 employees in an industry that has a high turnover of staff. Essential Payroll manage this brilliantly. They go above and beyond to meet our deadlines and liaise with us regularly. Essential Payroll offer a friendly, helpful and informative service that we would thoroughly recommend.”
Commercial Cleaning Company, Hampshire (615 employees)
“We have been working with Essential Payroll for years now, and couldn’t be more satisfied with the services they provide. Very efficient, professional and proactive company. We could not recommend them enough.”
Care Home Group, Dorset (500 employees)
“Essential Payroll has been our payroll office for over 4 years. Everyone that I have dealt with at Essential Payroll has been extremely professional and helpful in dealing with our payrolls. They offer immediate assistance and provide answers to questions we may have. They offer great processing service with payroll being calculated accurately, paid on time and all government forms submitted in timely manner.”
Bar/Restaurant Group, Dorset (75 employees)
“Dorset Commercial Cleaning have worked with Essential Payroll since we started the business three years ago. I can honestly say I wouldn’t know how we’d live without them. Their expertise and guidance was fundamental to us setting up an efficient and swift payroll system and their flexibility and helpful attitude over the last three years has allowed us to concentrate on delivering outstanding service to our clients safe in the knowledge that payroll is happening perfectly."
James Lattimer, Dorset Commercial Cleaning
