Outsourcing payroll accountancy should not just be considered by larger care home groups, it can deliver even greater benefits to small independent homes, according to Bond Payroll marketing manager Gary Webb.
No business – big or small – can escape the complexities of payroll, particularly businesses like care homes that manage part time workers, national living wage calculations, self enrollment pensions, national insurance and PAYE taxes.
“The bread and butter business for Bond Payroll is family-run companies with one or two care homes,” says Mr Webb. “The majority of contracts are with companies employing fewer than 50 people.”
Bond Payroll does work with larger organisations, including Avery Healthcare, which has almost 50 homes, but Mr Webb says it can help everybody. “If somebody has a PAYE reference, we will talk to them,” he says.
How companies engage with Bond Payroll varies from case-to-case. Some want to retain some of their accounting in house, others want to outsource the whole task. Either model gives customers access to Bond Payroll’s specialist knowledge of taxation, employment legislation, pensions and other HR issues.
Mr Webb often encounters small but growing businesses where the owner has always done the payroll work, but is now swamped by the time it takes to stay up-to-date. He says that these owners often find that, by outsourcing all or part of the payroll work, they create the time to run the business better. “Executives can become more profitable when we give them this time back,” he suggests.