For an entrepreneur who has set up a business and had the satisfaction of watching it expand to the point of needing staff, there may be some unexpected hurdles because of the need to be aware of the legal requirements of paying wages and salaries.
The whole area of wages and salary is subject to statutory duties which, as a general rule, are not simple. The National Minimum wage has to be paid to everyone over the age of 22, but this statement does not reflect the complexity of the requirement. Not every aspect of an employee's wage counts towards working out eligibility for the national minimum wage and their working hours are similarly complicated.
All employees have a right to a payslip, which must show certain information including gross pay, net pay, regular set deductions and any deductions that change. For each of the legal stipulations there is usually a very long guidance notice that is enough to put off any businessperson from taking on staff.
However, payroll outsourcing can solve these problems for you. Here at Dataplan Payroll we have been working for years in managed payroll services and have much experience in dealing with all the statutory requirements and keeping up with the relentless changes.
For a small business, managing the payroll can be disproportionately time consuming, so it makes sense to use payroll outsourcing services as you no longer have to spend the time investigating the wider shores of wages legislation and can be confident that your payroll is being managed legally and efficiently.