We can set up any new member of staff for you using their P45 or HMRC’s new starter checklist. If applicable, payroll services Peterborough can also take care of enrolling them on your pension scheme.
An employee with a attachment of earnings order (AEO) will need deductions taken from their wages to pay a creditor. Usually from a tax-related debt (such as council tax), we can make sure this is set up correctly.
When a member of staff leaves your employ, we can generate a P45 and take care of informing your workplace pension.
Company Benefits and Allowances
This can range from company cars, mobile phones to private healthcare provision. Company benefits need to be recorded correctly and totals submitted annually via a P11D.
Whether you need to process your staff’s wages weekly, fortnightly or monthly we can take care of this and distribute wage slips to your staff via email or post.
Do you need to know how much your customer services department cost this month? Or how much commission your sales team got paid? We can produce these types of reports for your business on a regular basis.
We calculate all expenses claims and can add all authorised expense claims onto your staff’s wages.
Your Employer Payment Summary (EPS) and Full Payment Submission (FPS) reports need to be sent to HMRC. These need to be completed after every pay-run to stay inline with the RTI rules.
Processing all types of statutory pay such as sick leave, maternity pay and paternity pay requires your payroll staff to be up-to-date on all statutory pay levels and legislation. Let us take the stress of this task away from your business.
Outsourcing Payroll Services
Does your business deal with business payroll services in-house? If you have been struggling with payroll, or are looking to move to a managed payroll service, Direct Peak provide payroll solutions and payroll services Peterborough, Stamford and Spalding.
Since HM Revenue and Customs have introduced the need for real-time information (RTI), every business that runs payroll must submit information every time payroll is run instead of waiting until the end of the year. This means that the data that is sent across must be accurate and kept up to date with the ever-changing payroll legislation. Here at Direct Peak, we can take on this often time-intensive for you.
Direct Peak can also handle all your Pension Auto Enrolment tasks, pension contributions and other third party deductions. Making sure the pension calculations and deductions for your staff are correct can be a real headache and drain on your time and resources. Let Direct Peak free you of payroll responsibilities and give you the time back to do what you do best – running and growing your business.
All our payroll processing staff hold an ICB Level 3 Diploma in Payroll Management and have many year’s experience, so you can rest assured your payroll is in safe hands.
Frequently Asked Questions
How do I migrate payroll to Direct Peak?
Payroll Services Peterborough: Moving your managed payroll services to Direct Peak is easy. When you’re ready to make the move, we’ll work with you to make sure the transition is as smooth as it can be.
At the start of any relationship with a new client, as a precautionary measure, for larger payrolls we generally suggest that we have a short period of running the system in conjunction with your old system, just to be doubly sure. That way we know that nothing has slipped through the net in the handover.
What do I do about payslips?
Our payroll services include distributions of payslips to your staff electronically via email. If you require printed payslips sent by post we can arrange this also.
How do I transfer my payroll data?
We can accept your exported data in all the common formats. Please let us know who your current payroll provider is, or the system you currently use, and we will let you know the best format to export the information. We’ll work together to agree a processing timescale so everyone knows what’s expected of them. And when you transfer your data, you can do so with confidence that you’re passing it over to a business payroll service that takes data security as seriously as you do.
What if there’s a problem with payroll?
We pride ourselves on customer service and aim to deal with any payroll problem within 24 hours. If for any reason, additions or last-minute changes get missed, We can revert the payroll, make the changes and re-submit to HMRC and re-email staff payslips.
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Payroll services can be a real headache for any sized business. Since HM Revenue and Customs have introduced the need for real time information (RTI), every business that runs payroll must submit information every time payroll is run instead of waiting until the end of the year. This means that the data that is sent across must be accurate and kept up to date with the ever changing payroll legislation.
If all this wasn’t difficult enough, it is now compulsory to provide your staff with a workplace pension through the auto-enrolment scheme on your staging date. We can set your workplace pension and manage it to take away the hassle, so you can concentrate on running your business.
What can we do for you business?
- Starters – Setting up a new member of staff using their P45 or HMRC’s new starter checklist (previously a P46).
- Leavers – Raising a P45 for a leaving member of staff.
- Pay-runs – Whether you need to process your staff’s wages weekly, fortnightly or monthly.
- Expenses – We can add authorised expense claims onto your staff’s wages.
- Statutory Pay – Processing all types of statutory pay such as sick leave, maternity pay and paternity pay.
- Earnings Order – The court can issue an earnings order, which means you need to pay a creditor through your wages.
- Benefits – This can range from company cars and mobile phones to healthcare and pensions.
- Wage Slips – Our preferred method is electronic distribution by email, but we can also distribute by post.
- Reports – Need to know how much your customer services department cost this month? Or how much commission your sales team got paid? We can produce many reports based on what you need to see on a regular basis.
- Statutory Reporting – We send your EPS and FPS report to HMRC for you. This needs to be completed after every pay-run to stay inline with the RTI rules.
- Auto Enrolment Pensions – Pension providers need to be updated every time you pay your staff, we will do this for you.
If you are unsure when you need to start your workplace pension, you can check with The Pensions Regulator.
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Benefits of using an accountant for Payroll Services
There are several benefits of using an accountant to provide payroll services for your business:
- Accuracy: An accountant is trained to handle financial data and can ensure that all calculations and filings are accurate, reducing the risk of errors and potential penalties.
- Time-saving: Outsourcing payroll services to an accountant allows you to focus on other areas of your business that require your attention, such as sales, marketing, and operations.
- Compliance: Payroll regulations can be complex and time-consuming to navigate. An accountant can ensure that you are in compliance with federal and state payroll regulations, reducing the risk of penalties and legal issues.
- Cost-effective: Hiring an accountant to handle your payroll can be cost-effective, especially for small businesses that don’t have the resources to hire a dedicated payroll professional.
- Expert advice: An accountant can offer expert advice on payroll-related matters, such as tax implications and benefits administration, that can help you make informed decisions for your business.
Overall, using an accountantlike Direct Peak to provide payroll services can save time, reduce the risk of errors and penalties, and provide expert advice, making it a valuable investment for any business.
Factors to consider when choosing Payroll Services Peterborough
As a small and medium-sized enterprise (SME) in Peterborough, selecting the right payroll service provider is a crucial decision that can significantly impact your business operations and employee satisfaction. The following are useful selection criteria
Firstly, reliability and accuracy are paramount. Your chosen payroll service provider must have a track record of delivering accurate and timely payroll processing. Errors in payroll can lead to disgruntled employees, legal complications, and financial losses. Look for a provider with a strong reputation and positive customer reviews to ensure they have a history of dependable service.
Secondly, compliance with local and national tax regulations is crucial. Payroll involves intricate tax calculations, deductions, and reporting, which can quickly become overwhelming for an SME. A competent payroll service provider must stay up-to-date with the ever-changing tax laws and regulations to avoid any compliance issues that could lead to fines or penalties for your business.
Moreover, data security is of utmost importance. Payroll processing involves handling sensitive and confidential employee information, such as social security numbers, addresses, and bank account details. You must ensure that the service provider employs robust security measures to protect this sensitive data from unauthorised access and cyber threats.
Scalability is another vital consideration. As an SME, your business may experience growth and expansion over time. You should choose a payroll service provider that can accommodate your changing needs and can easily scale up their services without disrupting your payroll processes.
Customer support and responsiveness play a significant role as well. Inevitably, questions and issues may arise regarding payroll matters. A reliable payroll service provider should offer responsive customer support and be available to assist you whenever needed, whether through phone, email, or chat.
Integration with your existing systems is also essential. A seamless integration between the payroll service provider’s software and your other business systems (such as accounting or HR software) can streamline your processes and save time, reducing the likelihood of errors caused by manual data entry.
Finally, consider the cost-effectiveness of the service. While it’s essential to find a payroll service provider that meets your needs, it’s equally crucial to ensure that their pricing aligns with your budget. Compare different providers and their pricing models to find the one that offers the best value for the services they provide.
In conclusion, when choosing a payroll service provider for your SME in Peterborough, prioritise reliability, accuracy, compliance, data security, scalability, customer support, integration capabilities, and cost-effectiveness. A careful evaluation of these factors will help you make an informed decision that benefits both your business and your employees in the long run.