As start-up companies progress and grow it often means that the numbers of employees will increase.

Naturally they will need to be paid and putting together their wage packets can take up far more time than you may think. Of course your local tax office will make sure that you have all the correct paperwork so that you can calculate tax and National Insurance Payments for each member of your workforce. In fact, the calculations are usually done using specific software for payroll solutions in these technological days to speed up the process.

Once the amount to be paid to the worker, the Inland Revenue and the National Insurance has been calculated, the payments need to be made. For the worker this is rarely done in cash nowadays and the BACS or automated bank transfer has become the almost universal payment method. Of course the right amount also needs to be paid at the right time to the correct government departments; this may be monthly, quarterly or annually depending on what has been put in place.

All of this takes time away from getting on with other essential jobs within the company and eventually can grow to the point where it is necessary to employ someone whose remit is specifically to look after the payroll. However, there are now payroll companies, like us at Moorepay who specialize in doing this kind of work on behalf of lots of SMEs and freeing up your time to specialize in what you do best. Payroll companies can save you time and money.