
Cost of living survival tips for Small Businesses & Sole Traders
As the cost-of-living crisis continues, small businesses and sole traders are once again battling through tough times. With more and more small businesses struggling or
As well as keeping employees happy by making sure they get paid the right amount on the right day, as a business you must ensure that you are fully compliant with government legislation.
Whether you have 1 employee or a workforce of 500, doing payroll activities can be time consuming and all the legal requirements and tax obligations can be confusing. For this reason, many companies choose to outsource payroll to a specialist payroll services provider such as JMC Accountancy.
A payroll accountant processes employee salary payments, calculating payments such as deductions, national insurance contributions, pension contributions and any other applicable payroll calculations.
They ensure that monthly payroll is completed by the required deadline and also prepare internal and external tax reports. A payroll services accountant will also usually be responsible for updating and maintaining employee information and ensuring the payroll process runs as smoothly as possible.
While accounting and payroll are part of the same financial bracket, there are some key differences.
Payroll is the processing of employee payments, while accounting is a broader set of processes and requirements that are involved in managing company finances, including submitting tax returns.
JMC Accountancy provides an expert payroll service to clients across the UK, from our offices in Cambridgeshire.
We have been taking care of our clients’ payroll responsibilities for over 18 years and know everything there is to know about HMRC requirements and employment laws.
Whether you are a new business starting out or you currently do your own payroll and want to free up more time, our payroll packages are structured to support small to medium sized businesses.
While the idea of paying a third party company to complete payroll activities may sound like an extra business cost, most businesses find that outsourcing their payroll service reduces overall business costs.
JMC Accountancy is based in Cambridgeshire and provides payroll services and professional advice to businesses across the UK.
With over 18 years of providing accounting and payroll services, we have helped our clients with business development, compliance and cost reductions. We provide a personalised service for each business, factoring in the specific needs of each client.
Our payroll services meet the needs of all types of business structures, including limited companies, small businesses, sole traders, partnerships, landlords and limited liability partnerships.
Here are some of the benefits of choosing JMC Accountancy for your payroll services:
Free up more time to spend on other business activities or improve your work life balance.
Have peace of mind that your payroll processes are being completed correctly and in compliance with HMRC requirements.
We can streamline processes by automating tasks through innovative accounting software.
Avoid the costs of employing and training a payroll manager or other accounting employees, including paying their holiday entitlement, pensions etc.
We provide expert business advice to help to identify efficiencies that can be implemented.
We offer an all-encompassing payroll service at an excellent price.
Our friendly team will always be happy to answer any queries you may have, without using accounting jargon!
We can recommend the best software to streamline business processes and drive efficiencies across your business.
JMC Accounting are here to help small businesses in Cambridgeshire and nationwide. Contact us to find out more about how our payroll services will benefit your business.
No, you do not have to be a qualified accountant to do payroll but outsourcing payroll has many business benefits. As well as having the peace of mind that payroll experts will ensure your business is fully compliant, you can save a significant amount of time and save yourself the hassle of doing complex payroll tasks.
Payroll is just one element of accounting, which comes under the wider business area of finance.
In larger businesses, where they do not outsource their payroll and do it all in house, the payroll responsibilities will often sit within the HR department, working in conjunction with the Finance department.
If you have never worked on payroll processes before then it will take a while to learn all of the requirements and how to use the payroll systems.
Payroll accountants typically have a degree in accounting and have spent years studying every aspect of payroll. They have an in-depth knowledge of using payroll software, doing audit work and understand laws such as the pension auto enrolment.
While it is possible to do your own payroll, it can actually be more cost effective to outsource the work to a payroll service, based on using the time you will save to concentrate on other areas of running your business.
As the cost-of-living crisis continues, small businesses and sole traders are once again battling through tough times. With more and more small businesses struggling or
The county of Cambridgeshire, governed by the Cambridgeshire and Peterborough Combined Authority, is an economic powerhouse. Home to the renowned University of Cambridge, the county
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Contact us today for a discovery call and see how we can help you run and grow your business.
If you’re searching for reliable local accountants in March, Cambridgeshire, look no further than our team of experts! We specialise in providing quality accounting services to limited companies, small businesses, and entrepreneurs, with a focus on Xero accounting software.
Our goal is to help our clients better understand their finances and make informed decisions to enhance their profitability and drive growth.