Setting Up In Business

Setting Up In Business
Alison Clynes
Written by Alison Clynes
Tuesday, 08 June 2010 23:00

When you set up a business for the first time, there are many aspects of your new venture to be considered. These will include:

  • Financing and government grants
  • How many employees will be needed
  • Your business premises and the Health and Safety regulations
  • Business taxes and VAT
  • Payroll, income tax and National Insurance
  • Capital Gains Tax
  • Insuring your premises in case of damage or theft

One way of reducing the burden would be making use of payroll services to take care of ensuring that your employees are paid on time, and that the correct amount of income tax and National Insurance has been taken. Payroll outsourcing means that you do not need to employ a trained wages clerk.

At Dataplan Payroll services, once we have established what you need, we will take care of all the various issues that can arise from this complicated area. For instance, the beginning of the new tax year and your employees' new tax codes, the payment of expenses, a change of pay day or frequency of payment. Also, if you decide to give your employees a pay rise or you may want to offer them the option of paying into a works pension scheme.

One way of making sure you have chosen a reliable payroll company is quite simply word of mouth. A chat with a colleague from another business who may already be using a payroll bureau and is happy with the quality of their service will save you time and money.

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