Ellis is celebrating National Payroll WeekThe Ellis Team
This week marks National Payroll Week 2023 in the UK, an event that aims to raise the profile of payroll and its importance to the economy.
Established in 1998 by the Chartered Institute of Payroll Professionals (CIPP), National Payroll Week highlights the hard work of professional payroll teams throughout the country who ensure that an astounding £4.46 billion is collected towards the UK economy via income tax and National Insurance.
Of course, here at Ellis & Co our payroll team is dedicated to ensuring that both our clients and our own team are paid accurately and on time; as one of business’ biggest expenditures this is a crucial component to success.
So how can you ensure that your payroll function runs as successfully as Ellis’? We take a look below…
Accurate payroll, as you would expect, is critical. Therefore, you must ensure that all employee details are up to date, not only to ensure that your employees are paid correctly, but also to guarantee that you are compliant with HMRC contributions such as income tax and National Insurance.
This doesn’t just include names, addresses, email addresses and bank details but also whether they are a temporary or permanent member of staff, salaried only or paid bonuses/ commission as well as if they are receiving sick or maternity/ paternity pay.
Legislation surrounding payroll can change often, and therefore it is crucial that you keep up to date with any forthcoming changes and implement the appropriate measures where necessary. Your accountant should provide you with key information on this.
Outsource to the experts
Of course, outsourcing your payroll to a specialist team will not only free up your time and save costs on overheads but also ensure that it is accurate, on time and compliant. If you’re looking to implement this in your business, get in touch today to find out more about our payroll service and how it can support your business.
On behalf of us all at Ellis & Co, we would like to say a huge thank you to our brilliant payroll team for all of their hard work!