Over 2020 and 2021, payroll professionals have faced more disruption than ever. They have found themselves pushed by changes to the government’s Covid-related support measures and have stepped up to the plate as essential workers within financial services.
Payroll professionals have gone about their business with minimal fuss, dealing with customary payroll cycles but also ensuring that changes connected to the government’s furlough scheme have been appropriately applied.
Some businesses have chosen to keep their payroll processes very much in house, and this can be for a multitude of reasons. Some business leaders are often protective of wage information, while others maybe prefer to maintain more control over payroll data in case there are any late changes. For some, in-house processing is simply more cost-efficient than outsourcing these services.
However, considering all the challenges associated with payroll over the last year, now may be a good time to consider outsourcing these services.
That is the view of Denise Terzi, managing director of Morewood Accounting. The firm specialises in working with individuals employing staff and business of all sizes, boasting over 25 years of knowhow in the field.
Terzi tells The Leaders Council: “Even the most meticulous and experienced professionals trying to do payroll in-house find that it can be a challenge. Without the proper knowledge of payroll procedure and access to a sound payroll program, it's easy to make mistakes. Combine the time spent on processing payroll with the financial penalties associated with pay and tax filing errors, and it usually works out more cost-effective to hire an expert and outsource your payroll.
“Here at Morewood Accounting, we can help businesses with setting up payroll, registering them as an employer if needed, designing the whole payroll process to ensure compliance, and ensuring the minimum amount of time is spent dealing with payroll matters.”
As well as ensuring that client businesses can move over to Morewood Accounting’s payroll services in a seamless and stress-free manner, Terzi and her company have expanded their payroll services offering to cater for direct payment payroll in response to the rise of personalisation over more recent years.
“The rise of ‘personalisation’ has been one of the major shifts in care over recent years,” Terzi explains.
“Instead of directly providing services, such as home helps, local councils can now give cash directly to individuals to make their own care arrangements. The advantage of this is in giving people choice, flexibility and control. Some people will use the money to buy care from an agency while others will directly employ their own staff, even in some cases paying members of their own family to do the care. These cash awards are known as direct payments.”
The problem arising from payments of this nature is that individuals receiving them are bound by the laws which cover employment, and would be responsible for matters such as payroll, workplace insurance, auto enrolment duties, health and safety and recruitment.
Terzi says: “By accepting direct payments the user accepts responsibility for the arrangement and administration of their services, and we are here to help.
“Morewood Accounting specialises in managing payments and all payroll related services on behalf of those in receipt of direct payments. We will register service users with HMRC as an employer and then act on their behalf to ensure they meet all the obligations surrounding National Insurance, tax, auto enrolment and reporting.”