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Bridging the skills gap: Get it right and the rewards are...

5th October 2024

THE MILTON Keynes Business Achievement Awards 2025 have launched with a theme that resonates deeply with the challenges faced by many businesses in our vibrant city: the need to close the skills gap and create educational opportunities to support future roles. Despite Milton Keynes’ reputation as a burgeoning hub for technology,...

We shape the teams that we deserve… and very few...

3rd October 2024

…OR PERHAPS I should say “Not as well as you would like”.

This is not surprising to me because, over the last 20 years of working with hundreds of leaders and managers in culture, leadership and change, I have seen very few leaders doing it well.

Despite our ever-increasing knowledge of the importance of creating great...

Innovation driven by a very different set of challenges

2nd October 2024

KEEPING the UK’s armed forces safe when they enter the field of battle is a key requirement of the nation’s defence strategy. This involves ensuring that the weapons and military vehicles used in action are robust enough and made from strong enough materials to withstand enemy fire.

However, this presents a complex challenge for an...

The game-changing tech for every SME business

2nd October 2024

Published in association with

IN TODAY'S fast-paced digital world, technology is no longer a luxury but a necessity for small businesses. From streamlining operations to boosting productivity and enhancing the customer experience, having the right technology and tools in place - along with the support of a trusted IT...

Succession planning: Keeping wealth in the family via a...

1st October 2024

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Published in association with

TRUSTS have traditionally been used by families and individuals as part of their succession planning. Since the changes to the taxation of trusts in 2006, trusts have been less attractive.

The Nil Rate Band Threshold has remained frozen at the current amount since 2009 and as a result...

LATEST NEWS...

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‘The most urgent yet’: Organisers...

12th October 2024

FULL-TIME workers are among those sleeping rough in Milton Keynes, with the cost of living crisis fuelling a major surge in demand for homeless services across the city...

Red Bull Racing joins Milton Keynes College in...

11th October 2024

REVVING up the desire for careers in motorsport coupled with attracting students to study the science, technology, engineering and maths subjects is the driving force...

‘The government’s slow pace in...

11th October 2024

“WHILE the moderate growth in GDP announced this morning will no doubt be welcomed by the government and business, they do reflect a UK economy that has...

Business

How to choose the right payroll management company

Published in association with

 

Selecting the right payroll management company is a critical decision for any business. Effective payroll management ensures that your employees are paid accurately and on time, while also maintaining compliance with complex tax and regulatory requirements. Here’s a guide to help you choose the right payroll management company in the UK.

Assess Your Business Needs

Before you start looking for a payroll management company, assessing your business needs is essential. Understand the specific payroll services you require, such as tax filing, benefits administration, time and attendance tracking, and compliance management.

Considerations:

Size of your workforce: Different companies handle different business sizes, from small startups to large corporations. Complexity of payroll: Consider the complexity of your payroll, including overtime, bonuses, commissions, and deductions. Frequency of payroll: Determine how often you need to process payroll—weekly, bi-weekly, or monthly. Research and Shortlist Companies

Research potential payroll management companies and create a shortlist of those that fit your needs. Look for companies with a strong reputation and positive customer reviews.

Considerations:

Experience: Choose a company with extensive experience in payroll management and a solid understanding of UK regulations. Reputation: Look for testimonials and reviews from other businesses in your industry. Certifications: Ensure the company has relevant certifications and accreditations, such as Chartered Institute of Payroll Professionals (CIPP) accreditation. Understand Compliance and Accuracy

Compliance with UK payroll laws and regulations is crucial. Choose a payroll management company that guarantees compliance and accuracy in all payroll-related matters.

Considerations:

Regulatory Knowledge: Ensure the company stays updated with the latest UK payroll regulations and tax laws. Accuracy: Look for a company with a proven track record of accurate payroll processing and error-free tax filings. Audit Support: Check if the company offers support during audits and can provide necessary documentation and reports. Assess Customer Support

Good customer support is essential for resolving payroll issues quickly and efficiently. Assess the level of customer support offered by the payroll management companies.

Considerations:

Availability: Ensure the company provides customer support or has a dedicated support team available during your business hours. Responsiveness: Look for a company known for its prompt and helpful customer service. Communication Channels: Check the available communication channels, such as phone, email, and live chat. Compare Pricing and Contracts

Compare the pricing structures and contract terms of the shortlisted payroll management companies. Ensure you understand the costs involved and the flexibility of the contracts.

Considerations:

Pricing: Look for transparent pricing with no hidden fees. Consider whether the company charges a flat rate, per employee, or based on the services used. Contract Terms: Review the contract terms, including the length of the contract, cancellation policies, and any guarantees or warranties. Value for Money: Consider the overall value for money based on the services offered and the company’s reputation.

Conclusion

Choosing the right payroll management company in the UK is a crucial decision that can impact your business’s efficiency and compliance. By assessing your needs and doing your research, you can make an informed decision that benefits your business.

At Payroll Options Ltd, we offer comprehensive payroll management services tailored to meet the unique needs of businesses in the UK. Contact us today to learn how we can support your payroll needs and help your business thrive.

Call 01908 630 777, email sales@payrolloptions.com or visit Payroll Options online.

‘The most urgent yet’: Organisers issue a rallying cry to businesspeople ahead of CEO Sleepout to highlight plight of homeless

12th October 2024

FULL-TIME workers are among those sleeping rough in Milton Keynes, with the cost of living crisis fuelling a major surge in demand for homeless services across the city...

Red Bull Racing joins Milton Keynes College in initiative to encourage schoolchildren to take STEM subjects for their career potential

11th October 2024

REVVING up the desire for careers in motorsport coupled with attracting students to study the science, technology, engineering and maths subjects is the driving force...

‘The government’s slow pace in addressing the problem of disappointing economic growth is not entirely by choice’

11th October 2024

“WHILE the moderate growth in GDP announced this morning will no doubt be welcomed by the government and business, they do reflect a UK economy that has...

‘A remarkable cultural significance’: Bank goes nuts over sponsoring World Conker Championships

11th October 2024

FIRST it was the world stone skimming championships in Scotland... Now challenger bank Allica Bank is moving into conkers.

The bank, whose head office is in Milton...

At the top table: Raise a glass to the winners in the Buckinghamshire Food & Drink Awards

9th October 2024

BEING the cream of the crop is meat and drink to the best of the best in Buckinghamshire’s food and drink sector.

The county’s pubs, restaurants, retailers,...

Technology entrepreneur accepts post as new chair of Camphill MK charity

9th October 2024

CAMPHILL Milton Keynes, the largest provider of housing in the city for adults with learning disabilities, has appointed a new chair of trustees.

Security and tech...

Financial

How to choose the right payroll management company

1st September 2024

Published in association with

 

Selecting the right payroll management company is a critical decision for any business. Effective payroll...

‘The government’s slow pace in addressing the...

11th October 2024

“WHILE the moderate growth in GDP announced this morning will no doubt be welcomed by the government and business, they do reflect a UK economy that has...

Legal

Law firm welcomes new partner to head property dispute...

7th October 2024

LAW firm EMW has bolstered its real estate and litigation expertise with the hire of Mike Lewis as partner and head of property dispute resolution.

Mike brings a...

Succession planning: Keeping wealth in the family via a...

1st October 2024

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Published in association with

TRUSTS have traditionally been used by families and individuals as part of their succession planning. Since the...

Bedfordshire

‘The government’s slow pace in addressing the...

11th October 2024

“WHILE the moderate growth in GDP announced this morning will no doubt be welcomed by the government and business, they do reflect a UK economy that has...

A421 reopens between Bedford and Milton Keynes as flooding...

7th October 2024

THE A421 between Milton Keynes and Bedford will reopen to traffic in both directions this morning (Monday) for the first time in two weeks since major flooding. A...