Dental payroll services – why it’s time to outsource
From calculating employee wages and taxes, to updating holiday and sick pay or deducting employee-contributed payments for benefits, managing payroll is complex. Lansdell & Rose’s specialist dental payroll services, delivered by our sister company, Wagemate, are designed to take this headache off your to do-list, while saving you time and money.
Should you outsource your payroll?
The answer tends to be“yes”. This is especially true for practices who employ more than five individuals, either as staff or contractors.
In general, outsourcing payroll costs 50 per cent less than doing it yourself, whether your practice is large or small. That’s considering the investment you’ll need to make in time and money in order to learn and process your practice’s payroll needs. Outsource payroll and you’ll have more of both, which can be usedfor other areas of your business.
Other advantages include:
Convenience Simply provide Wagemate with the details of all staff and/or contractors and let them take care of the rest.
Efficiency Wagemate can seamlessly link into other areas of the business for support with auto enrolment, preparing tax returns for owners, managing HMRC submissions, reimbursing expenses, providing p45s and P60s and more.
Accuracy Everyone knows payroll needs to be accurate to ensure people are paid what they expect; it will be another job to rectify a mistake. The other side of an accurate payroll is ensuring you are up to date with HMRC regulations; get it wrong and, at worst, there could be financial penalties to pay. This leads us neatly on to….
Compliance Wagemate will make sure you are fully compliant when you are paying yourself, Partners, staff, and contractors. HMRC has a lot of rules that must be followed, which quite often intertwine, making for an increasingly complex process. Compliance is essential, no matter how many or few people you need to pay.
Grants and government schemes There are various government initiatives that you could benefit from, reducing how much money you have to hand over from staff/contractors/HMRC to a third party – we can make you aware of these opportunities.
As your practice grows, payroll will only become more time consuming. Outsourcing payroll gives you back more time to spend on your business, and peace of mind that it is being done accurately.
How do you arrange managed payroll services?
Contact Lansdell & Rose via the form below or call 0207 376 9333, or contact Wagemate directly on 0330 102 102 or via their website www.wagemate.com.