Here at Shield Contract Services, we assist recruiters and contractors alike with payroll processing. Payroll issues are unfortunately very common across all industry sectors, and as ABC Money explained in their latest blog post, failure to resolve payroll problems can lead to more than just financial damage:
“Payroll errors can be very expensive for the company, not just in terms of money but also reputation. Some payroll problems are very common and it is good to have a prior knowledge so they can be avoided. One of the most common mistakes with payroll is incorrect processing where the final salary that the person receives can either be higher or lower than what it is supposed to be. Such errors create a lot of hassles since it requires rework and is very time consuming.”
Alongside late and incorrect processing, non-compliance with the most up-to-date regulations, inefficient backup systems and inexperienced in-house payroll personnel can all cause issues for employers and their employees. To avoid the payroll issues commonly encountered, we have designed and developed a number of specialist products to take the hassle and risk out of this complex process. In this post, we provide an insight into our payroll products so you can determine which one is right for you, your needs and your budget.
Designed specifically for the temporary workers enlisted by recruitment agencies on flexible contracts, PAYE Umbrella delivers a solid base for handling payroll. It provides a complete assessment to examine expenses on a case by case basis and offers a personalised approach to payroll for your individual circumstances.
Through PAYE Umbrella you receive same day payment, weekly payslips, statutory holiday entitlements and personal accident cover amongst other benefits. As with all our products, PAYE Umbrella clients receive help from our experienced team of payroll specialists.
Want a qualified and experienced partner to take care of payroll on your behalf? Then Payroll Bureau is right for you. With this option, we take the stress out of calculating and processing payroll, avoiding the common issues that companies within the recruitment sector frequently encounter. Using the latest technology and more than two decades of knowledge, Payroll Bureau ensures you can take advantage of a professionally managed payroll solution and gain a better understanding of your payroll requirements.
For contractors currently working on an hourly rate of pay equating to £9.50 or under, our Tax Benefits scheme is an excellent option. Like our PAYE Umbrella package, Tax Benefits works on a case by case basis to understand your exact needs and expenses entitlement. Tax Benefits is also suitable for temporary workers who move from one recruitment agency to another to complete contracts.
Are you a contractor with a minimum pay rate of £17? Shield Limited ensures you get the accounting and payroll advice you need to benefit from an even wider array of allowable expenses. In addition to discovering the most efficient payment options for you, through the Limited option, our payroll professionals can register for PAYE, Corporation Tax and as your accountancy administrator on your behalf.
There are many benefits to contracting, one of which is having the flexibility to work your way. As a result, contractors work in a variety of different ways and for those subject to direction, supervision or control, payroll processing can be made even more complex due to statutory commitments for the deduction of PAYE and NIC at source. The Shield Options scheme takes care of this for you, as well as unlocking various benefits such as same day payment, weekly SMS income updates, weekly payslips, online portal access, personal accident cover and end of year statements.
Self-employed individuals not under direction, supervision or control, i.e. the Construction Industry Scheme (CIS) contractors that this package is named after, need reliable and hassle free payroll too. Ensure you get paid on time and all paperwork, including invoices, is professionally handled with CIS, a unique payroll processing scheme.
To find out more about our long list of payroll processing products, please contact our team today to discuss your requirements.