dataplan payroll services

Payroll Solutions To Meet Changing Regulations

Payroll Solutions To Meet Changing Regulations
Alison Clynes
Written by
Wednesday, 30 June 2010 23:00

It was inevitable that the new government, whatever its political complexion, would bring in sweeping fiscal changes to tackle the country's economic crisis. Already we are preparing for changes to Income Tax rates and thresholds, and to National Insurance contributions. There are also likely to be new regulations regarding things like Working Tax Credit, expenses claims, mileage allowances, and employee 'perks' - all of which are going to impact any payroll solutions currently in place.

There are also hints of new government schemes for encouraging employers to take on staff from specific demographic groups - under-25's, over-50's, the long-term unemployed - with financial incentives to employers doing so. Existing progammes pay participating employers two cash lump sums, six months apart. However, newer schemes could involve ongoing part payment towards wages.

Other government initiatives include encouragements for saving via pension plans or personal accounts, and greater support for, and co-working with, charitable organisations. All of this could be facilitated through employees' wage packets.

Changes like these can put considerable strain on any company's payroll processing services, especially when the new regulations may be introduced several at a time, with some backdated and some phased in, and some applicable to only certain sectors of the workforce. Employers will need to allow for considerable amounts of staff training, with its drain on resources and productivity, to enable their wages personnel to comply with the new rules without costly mistakes.

At Dataplan Payroll, our staff training is constantly updated, so we can provide up-to-the-minute payroll outsourcing services that allow companies to concentrate their energy and resources on their core business.

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