What Every Payroll Team Needs to Know
Running payroll is not easy, but with so many changes this year to regulations, it has become even more complicated. Making sure you update payroll with new changes and keep track of new requirements is key to payroll compliance. Here is what your payroll team needs to know to stay ahead.
HMRC Updates to Legislation
HMRC makes changes to legislation during the year that impact payroll – the furlough scheme is just one example. Verify that your payroll software is automatically updating with the newest regulations to ensure compliance. Not sure if your payroll technology is updated? Look for a cloud-based payroll solution that can ensure compliance and auto-update with any changes from HMRC.
Each year, HMRC reporting requirements take resources away from your team to provide year-end payroll reporting. If you have access to custom reporting from your payroll solution, you don’t have to waste time with manual and tedious reporting each month and at year-end. If you can’t create custom reports from your payroll software, it’s time to make a change.
Payroll and HR teams use the same employee data, but often use different systems and duplicate processes to manage employee payroll and HR admin. Integration is a key component to simplifying payroll and HR while ensuring accurate employee data management. Your payroll, HR, and time management tools should all integrate so your team can spend less time on data entry or employee changes and more time on important company initiatives.
Staying ahead of HMRC changes and reporting requirements is a challenge for payroll teams. With the right software and integrated tools, you can simplify payroll for your team and ensure compliance for your organisation. If you have challenges with your payroll process, talk to us – our cloud-based payroll, HR, and time management tools make it easier to manage employees and reduce resources spent on payroll. Click here to learn more