Managing a payroll includes not only making sure that the correct amount is paid to the members of staff and that their tax is deducted, but also that their national insurance contributions are correctly calculated and paid. NI contributions are important as they build up the entitlement to such benefits as old age pensions and sick pay.
Not everyone is aware that national insurance contributions are required on all employments, if someone has more than one job, and on various benefits as well as basic wages or salary.
There are six classes of national insurance contributions, depending upon the type of employment, that is whether an employee, self employed or a director, and within these classes, there are sub-categories so that people may pay NI contributions at different rates according to an individual's circumstances.
It is clear from this that even dealing with the NI aspect of a payroll is a complicated and time consuming task. This is one of the reasons that many businesses these days use payroll outsourcing services as this reduces the burden of work on in-house staff. A payroll company has the experience and knowledge of dealing with these matters to ensure that statutory requirements are met and that accurate records are kept.
Here at Dataplan Payroll, we are experts in the field of payroll processing services and we have many years experience of handling payroll processing services. Once your payroll is being managed by us, you will not have to wonder whether the correct contributions have been made, as you can be sure they are.