The Payroll Company delivers bespoke solution to “dramatically reduce” employment costs for security companies

Over the years, there have been numerous approaches aimed at reducing the ever-increasing costs involved when it comes to a directly employed workforce. Multiple solutions have been promoted by umbrella companies and personal service businesses, with composite company solutions and offshore engagements put forward for discussion. Inevitably, this has led to multiple pieces of tax legislation being needed to deal with them.

For its part, The Payroll Company boasts 20 years’ experience in providing compliant payroll solutions. Following on from a necessarily thorough review of the security company’s current working practices, The Payroll Company then builds a bespoke engagement solution tailor-made to meet the specific needs of the business with which it’s working. All options are guaranteed by tax and employment law specialists to be both wholly compliant with Her Majesty’s Revenue and Customs (HMRC) and ethical in nature.

That means protection from HMRC Status Reviews and the potential for costly fines due to non-compliance. The host business is able to reduce the risk of Employment Rights claims, while at the same time saving money on direct employment costs (such as those aligned with National Insurance and pension schemes).

Businesses working with The Payroll Company will be able to save money on expensive agency fees. There’s also the potential to increase the flexibility of a self-employed workforce with the ability to match staff to workload.

PAYE in focus

Employers with employees earning above the National Insurance lower earnings limit are required by law to operate a Pay As You Earn (PAYE) scheme. PAYE, of course, is the system under which employers deduct income tax and National Insurance from employees’ salaries and wages in accordance with HMRC-defined obligations.

Payroll itself can be a time-consuming and complex administration task with the potential to divert energy and resources away from the core activities of a business. The Payroll Company can relieve security companies of this administrative burden by providing comprehensive and confidential payroll services that are cost-effective in delivery.

Those services includes calculating and deducting income tax and National Insurance from employees’ pay, payslip production, the generation of payroll reports as and when required, the administration of statutory sick pay, statutory maternity pay and pensions and processing new joiners as well as those exiting the business at any given time.

The Payroll Company also focuses on the completion of statutory forms, including monthly RTI reporting and submissions to HMRC plus P60 Form generation for employees. The Payroll Company will also record employee benefits, subsequently producing P11Ds at year-end.

Further, the provision of a dedicated payroll manager by The Payroll Company serves to ensure a reliable, accurate and secure payroll solution for the host security company.

*Interested parties wishing to discuss a bespoke solution for their business should contact The Payroll Company for a free consultation on (telephone) 01245 850300 or send an e-mail to: [email protected] Alternatively, access the website: www.payyourworkforce.co.uk for further details and to access Case Studies of projects undertaken with clients operating in other business sectors