One of the most important characteristics to look for is a payroll company’s ability to process your payroll accurately, securely and in accordance with all relevant pay and tax legislation. This, more than anything else, is what will give you the peace of mind that you are looking for.
To deliver accuracy, security and compliance, your chosen payroll provider will need to satisfy several requirements:
Firstly, your payroll company should be HMRC approved – to ensure that you do not run the risk of incurring penalties from HMRC due to inaccurate payments or late submissions. With Real Time Information (RTI) a real headache for some companies, we’ll take away the pain of managing important payroll information and the relationship you have with the HMRC. FMP Payroll Services is fully HMRC approved and our Payroll software, including FMP Payrite is kept continually up to date with all changes to payroll legislation, ensuring ongoing compliance.
Secondly, your choice of company should be BACS approved – to ensure they have the processes and procedures in place to ensure accuracy of payments. FMP Payroll Services is a BACs approved bureau, achieving excellent in all five audit categories. What this means for you is that you don’t need to run your own BACs software in house and can be assured of speedy and accurate payments for your staff.
Lastly, your chosen payroll company needs to have proper processes and procedures in place to deal with sensitive employee and company data securely. FMP Payroll Services is one of only a few companies that has Payroll Assurance Scheme accreditation from the Chartered Institute of Payroll Professionals (CIPP). Assessment focusses strongly on the basic gross to net processes by which payroll officers and departments ensure that the correct deductions are made from employees pay and are accounted for to HMRC and other authorities as appropriate.
Working with FMP Payroll Services should make your life easier, allowing you to focus on your core business activities. We’ll take care of all third party payments and liaison.