If you’ve just moved from a sole trader to a limited company and are hiring employees, one of your biggest priorities is making sure that your new employees are getting paid the correct amount of cash, on time. If this is the first time you’ve had to handle payroll services, it can initially seem quite daunting.
This is usually around the time you hire a dedicated accountant to handle this alongside other accounting services like tax payments, but if you want to risk it going alone, there’s a lot of accountancy and payroll services available online to make your job a lot easier, like:
If you’re looking for a trusted payroll service, you can’t go wrong with Xero Payroll. With one million current users and counting, Xero Payroll combines ease of use with a comprehensive feature set to allow for its users to change payment details quickly.
One of its best features for accounting novices is that it automatically sends data to HMRC after sending out payments, saving you any legal headaches from not complying with tax laws. At £10 a month, it’s one of the more expensive entry-level options available.
Another option for the non-accountant is Sage Business Cloud Payroll. You can enter hourly or yearly pay, and the quick set-up process means you’ll be up and running in minutes. Its user-friendliness gives it an advantage over even Xero and Quickbooks.
Fully compliant with UK tax legislation and GDPR, and with a cheap entry cost of £6.60 per month, and a 24/7 support team to help you through the setup process, there’s a good chance that Sage Business Cloud Payroll is perfect for your payroll service needs.
For particularly mobile-savvy entrepreneurs or those in a hurry, there’s Quickbooks. A straightforward and simple app, Quickbooks comes with all the usual features of desktop payroll applications, but on the go. For small business owners who need to make payments or adjust payments on the go, this might be the payroll service for you.
At £15 a pop for small business owners, it’s the most expensive option here, but can provide the most utility if your work life doesn’t give you to chance to sit at the desk often.
Managing payroll can be a complicated affair: sick days, maternity leave, PAYE contributions, overtime payments and other factors can all complicate the process, which is why we only recommend you go it alone if you have a good understanding of these potential issues. For those unsure about payroll services or general accounting, take a look at what we can offer for startups and SMEs.