The Christmas and New Year break is a good time to reflect on all that is good and not so good with your business. Business owners have chance to step back and take time to look at what works, what doesn't and what could be better as well as planning for the coming year.
How much time does it take you to do your payroll? Not long - as long as its straightforward - will probably be your answer. You think it won't be worth outsourcing that task as no-one will want to do a payroll for just one or two people - will they? We do! We process payroll for several companies who just have one employee and why do they ask us to do it? Because they want to know its done properly and on time. The cost of outsourcing is a fraction of the cost of the time you spend doing it and you don't have to update your software every year.
HMRC are forever changing what is needed and as payroll providers we have to keep up with those changes. All of our employers are claiming the £2,000 employment allowance - but there are apparently still 35% of employers who haven't. Are you one of them? We deal with Statutory Sick Pay (SSP) and Statutory Maternity Pay (SMP) regularly so we know what needs to be done and what information is required. When you have to deal with SMP you probably need to read and interpret HMRC guidance notes before you start.
So perhaps your review of what you could do better in your business maybe to outsource your payroll. Give us a call to see how cost effective we can be!
Perhaps the review of your business highlights how much time you are spending on your accounts which could be better spent elsewhere or perhaps you never have the time to do your accounts until your VAT filing deadline is upon you. The businesses we work with choose to outsource for a variety of reasons. For many of them paperwork is just not their thing and they come to us as soon as they decide to start a business and we deal with everything from setting up their accounts systems, to raising invoices, paying suppliers, registering for VAT when necessary and just being there for them when they need some advice. Other business owners like to keep control of their accounts but just want to know they have done it right and have someone check their accounts and do their VAT return.
So we can add as much or as little support to your business as you would like.
Auto enrolment is the latest regulation to hit small businesses and this is definitely not something to be ignored. You must have a scheme set up by your Staging Date and the fines for not complying could wipe out a business very quickly. If you don't know what auto enrolment entails find out more here. We have set up a number of schemes over the last 3 months and therefore can easily set up yours with just a little input from you. Our Auto Enrolment specialist will ensure you comply with all the requirements and will set your mind at rest if you have any questions.
As a business owner myself I know how many tasks and responsibilities we have and there comes a time when you realise you just can't do everything. It is not always feasible to employ someone as there may not be enough work for them but outsourcing provides you with extra skills you can use when you most need them.
If you are planning to reduce your workload or bring more efficiency to your business and are considering outsourcing your bookkeeping, VAT or payroll give us a call and see how we can help you. It is a cost effective solution. We have worked with many of our clients for several years enabling them to concentrate on what they are good at but also taking the worry of getting it wrong away. As one client said "You are the best thing that has happened to my business" and he has been in business for 25+ years so I take that as a real compliment.
Implement your New Year resolution now and call us on 01722 341820.