Payroll Services by MyTaxDoc

Yawning sloths, roasting turkeys, and listening to your granddad’s Navy stories may take
up some time, but none of them can compare to the sheer time and effort required for
payroll management.

Handling payroll can be a time-consuming task and is a critical function that needs to
be executed efficiently to ensure the satisfaction of your employees and clients. However,
if your payroll manager falls ill or if there are sudden changes in government regulations,
can you respond swiftly and effectively? If not, that’s where our services come in to assist
you. Nonetheless, there are many other crucial factors to consider when it comes to
managing payroll services.

Are payroll services essential?

This question is important to answer in response to COVID-19. Yes, payroll professionals
are classed as key workers, as confirmed by the Chartered Institute of Payroll
Professionals (CIPP). If you have further questions regarding furloughed staff and key
workers, please get in touch with us on 0800 009 6441.

What do payroll services include?

Businesses often utilise payroll services because it allows them to focus on their core
competencies, such as business development, sales, and communication, instead of
spending valuable time managing their payroll. Maintaining an in-house payroll service
can be expensive, so companies turn to payroll services as a cost-saving measure.
Additionally, a packaged payroll service provides peace of mind, as accountancy firms
possess specialized knowledge and expertise to ensure compliance with regulations and
legislation, alleviating the burden on businesses.

Should I outsource my payroll to MyTaxDoc?

Outsourcing payroll services offers numerous advantages. The cost of training staff and
purchasing the latest software can be high, not to mention the time required to train
employees. Outsourcing payroll to an accountant eliminates these concerns.Furthermore, outsourced payroll services are often faster, more efficient, and more
accurate. Companies that specialise in payroll management day in and day out are
likely to have superior expertise in handling complex payroll queries. The fact that 61% of
businesses outsource their payroll supports the notion that many companies prefer to
outsource payroll rather than manage it in-house.

How much does it cost for payroll services?

The cost of outsourcing payroll services typically averages around £5 per employee,
although this can vary depending on the employee’s position, such as directors. While
the cost of outsourcing payroll services is an important consideration, it is also crucial to
consider the potential savings. The benefits of having access to expert knowledge, the
latest software, regular training, risk mitigation, and penalty avoidance can provide
businesses with peace of mind knowing that their payroll is being handled with care and
precision.

Contact MyTaxDoc Accountants for payroll advice

While payroll management may not be the most thrilling task, it is one that requires significant attention to detail and accuracy. As a company that specializes in payroll management, we understand the importance of this task and take pride in helping numerous businesses with their payroll needs on a weekly basis.

If you are considering outsourcing your payroll services to MyTaxDoc, please don’t
hesitate to contact us through our website or by calling 0800 009 6441. We would be
happy to discuss how our services can benefit your business.

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