In the UK, there are around 1.4 million businesses that employ staff to run payroll in house.

Every month, it can take a business a substantial amount of time to carry out the multiple processes that need to be carried out to comply with legislation and to ensure their employees are paid accurately and on time.

Payroll regulations are also constantly evolving, including the introduction of real time information (RTI) to the PAYE system, whereby businesses can be fined for failing to submit information to HMRC each time an employee is paid.

RTI was introduced in 2013 and since then there has been a significant increase in the number of businesses outsourcing either specific elements of, or their entire payroll due to the fear of non-compliance.

The GDPR also brought added stress on the 25 May last year, as businesses reviewed their processes to ensure employee’s data was being handled in the correct way, keeping it both confidential and secure.

Research from Sage, which polled 850 accountancy practices in the UK in 2018, found that 62% of respondents had adopted cloud based solutions. 

Find out more about the Payroll services offered by M+A.