Growing your business is exciting. More customers, more opportunities and, quite often, more people joining your team.
But as your team grows, so does the payroll admin.
Payroll is one of those jobs where getting the basics right and providing the right information at the right time can save a lot of unnecessary hassle. Our payroll team, Liz and David, spend their days helping businesses keep everything running smoothly, so here are a few reminders to help you stay on top of things.
Don’t Forget About Workplace Pensions
Taking on a new team member doesn’t just mean adding them to the payroll.
You’ll also need to consider your workplace pension responsibilities. Depending on their age and earnings, you may need to automatically enrol them into your pension scheme and make contributions.
There are also ongoing responsibilities to think about. Team members’ circumstances can change and people who aren’t eligible initially may become eligible later.
The important thing is not to leave pensions as an afterthought. Make them part of your normal payroll process so nothing gets missed.
Tell Us About New Starters As Soon As Possible
When you take on a new team member, there’s already plenty to think about. Getting their payroll sorted shouldn’t add to the workload.
If you use GreenStones for your payroll, we’ll let you know what information we need to get your new starter set up correctly. We have a simple checklist for you to complete, so you know exactly what to send us.
The sooner we have the information, the easier it is to make sure everything is ready for their first payday.
It’s one less piece of admin for you to worry about – and more time to focus on growing your business.
Payroll Compliance Isn’t Just About Paying People
There’s more going on behind the scenes of payroll than you might think.
Information needs to be reported to HM Revenue & Customs (HMRC), deductions need to be calculated correctly and payments need to be made on time.
As your business grows and you take on more team members, there’s simply more information to manage – and more opportunity for something to slip through the net.
That’s why having good processes matters.
If somebody joins, leaves, receives a pay rise, changes their hours or has another change that could affect their pay, make sure the information is passed on promptly.
Make Payroll One Less Thing To Worry About
Payroll shouldn’t become a headache just because your business is growing.
Our payroll team, Liz and David, are here to help make sure your payroll is processed accurately and on time, while keeping you up to date with the information we need from you.
If your team is growing, you’re thinking about outsourcing your payroll or you simply want to check you’re doing everything you should be, get in touch with GreenStones.
Call us on 01733 371180 or email advice@greenstones.co.uk and we’ll make sure you speak to the right person to help.