Having efficient and accurate processes in place for your UK payroll isn’t just about keeping your employees happy. As with anywhere else in the world, running payroll in the UK requires compliance with various rules and regulations.
Failure to comply could see harsh penalties thrown your way, so unfaltering compliance is non-negotiable. But with so many hoops to jump through regarding payroll governance, that’s easier said than done.
So, what if you could access all your important payroll documents in a secure, centrally managed portal that’s easy to use and guarantees compliance?
A minefield of regulations
The UK has dozens of payroll-related laws to navigate when running a business. You’ll need to guarantee compliance across a long list of regulations that includes pensions, P60s, income tax, National Insurance deductions, benefits, P11ds, share schemes, paid leave, national minimum wages and PAYE requirements such as payslips. And a special mention goes to the notoriously complex IR35 legislation that’s been designed to reduce tax avoidance from ‘off-payroll’ contractors in the private sector.
Data protection is paramount when handling sensitive and confidential payroll data. And failing to comply with the GDPR could lead to serious legal and financial consequences — not to mention the accompanying business disruption and damage to your brand’s reputation.
To add to the burden, all these requirements tend to change regularly in the UK, meaning it’s easy to overlook rules or regulations that could see you fall out of compliance. PAYE payroll in the UK has changed more in the past five years than it has in the last 20, and more stringent measures than ever are now in place. So, you don’t want to be cutting any corners when it comes to running payroll in the UK…
But what actually happens if you don’t have proper payroll governance?
Making payroll errors could be detrimental to your organisation.
And if you’ve paid your employees but neglect sending an FPS payroll report (or send one late), HMRC will issue you with a late filing notice and could charge you a penalty. Errors like this can also affect your employees’ income-related benefits, such as Universal Credit.
Your solution to UK payroll
Wouldn’t it be easier if you could rely on payroll outsourcing services and take advantage of a world-class HR and payroll document storage platform to guarantee compliance?
Introducing Portico: TopSource Worldwide’s cutting-edge, centrally managed HR database. This cloud-based portal offers a more resilient and efficient payroll environment that provides seamless HR data tracking and secure document archiving.
The portal provides access to all relevant payroll information for your UK employees — giving them end-to-end visibility over all their data via one secure interface. Through Portico, employees can easily view and update their personal details, access and print payslips, manage annual leave allowance and expense claims, plus much more — freeing your payroll and HR departments from mundane admin tasks.
Portico also provides a secure and flexible way to store and track your HR and payroll data in line with all UK data protection regulations and payroll legislation. The platform is certified to meet the GDPR and provides comprehensive payroll reports from a fully secure HR database.
Thanks to a combination of encryption software, technical safeguards and well-trained staff, Portico is the ultimate solution to keeping your employees’ payroll data secure. All data is kept safe during transit and can only be accessed with a company ID, user ID and a password. We also work to ensure all payroll information is stored securely throughout its lifetime.
More than just a platform
When you work with TopSource Worldwide, we’ll provide access to our Portico HR system and adapt it into a configurable workflow solution that’s bespoke to your business. What’s more, you can benefit from our in-country UK payroll services and expertise and full support during payroll setup for new UK businesses. We also provide guidance and consultancy services from a dedicated payroll manager and access to a team of highly experienced, CIPP-trained payroll professionals to give you confidence in your business’ UK payroll operations.
Want to get compliant with your UK payroll? Contact the TopSource Worldwide team for more details on our outsourced payroll solution.