A managed payroll service us an outsourced service that will normally include some or all of the following over and above a basic bureau service:
- Guaranteed turn around timescales
- Dedicated staff
- Telephone helpline
- Multi-frequency processing
- Bacs employee, PAYE and 3rd party payments
- Bacs report collection
- Legislative payroll calculations
- Management reports and departmental analysis
- Individual sealed payslips
- Electronic return of output (payslips & reports)
- Monthly and annual pension returns
- Year end on-line filing of P14′s and P35
- Individual employee year end P60s
- HMRC online collection and filing for P45, P46, P6, P9 P38, P43 etc.
- First class postage of payroll output
- Posting of individual payslips to employees
- Assistance with PAYE audits
- Payroll reporting retention
- Regular Newsletters
Typically a Managed Payroll service will be charged at a flat monthly fee.
We hope this definition is useful. You’ll find details on Payplus’ managed payroll service here.