WHY IS PAYROLL IMPORTANT TO YOUR BUSINESS?: WHY OUTSOURCE: PAYROLL SERVICES

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1 Payroll Services

2 WHY IS PAYROLL IMPORTANT TO YOUR BUSINESS?: Payroll is the largest financial obligation for most businesses. Paying your people accurately and on time is essential for ensuring your business runs smoothly and your employees stay motivated. Payroll can be a complicated, time consuming and a costly function within a business. The payroll environment is constantly changing with the taxation system and employment legislation making it one of the most challenging functions in a business. Many firms underestimate the true cost of processing payroll by failing to account for the hours spent and resources allocated to pay employees and maintain payroll records, software & IT costs, office costs and labour costs. At Hughes Blake, we want to make your life as easy as possible by making payroll as simple as possible. Processing payroll is what we do best so let us help you concentrate on what you do best running your business. WHY OUTSOURCE: A recent survey on outsourcing stated that the main reasons for outsourcing are to enhance process efficiency and quality and to relieve internal resources to concentrate on core functions. 92% of the organisations surveyed believe that outsourcing adds value to their business. More businesses are now choosing to outsource their payroll function so they can enjoy the benefits of a flexible, accessible and expert payroll service without allocating their staff, equipment, time and resources to manage it. One of the main reasons for outsourcing payroll is to reduce cost, however there are other factors to take into account when considering outsourcing this function. These can include legislative obligations, compliance, training, annual leave, absenteeism, software costs, backup storage and access to confidential information. Using our service means you can focus on developing your business without having to worry about increasing your overheads. You can add or remove employees from the payroll at any time, and whether you have 5 or 500 employees, you benefit from the same high level of service and support. You will always be up to date with the very latest changes in tax and employment legislation so you will save even more time and won t have to worry about checking for changes. With our secure payroll service centre and full disaster recovery, you will have complete peace of mind that your confidential payroll data is in safe hands. 1

3 BENEFITS OF OUTSOURCING PAYROLL TO HUGHES BLAKE: The main benefits for outsourcing payroll fall under the following headings: Value Tailored payroll package provided to suit individual payroll requirements Fixed cost structure that helps with your budgeting No payroll software, maintenance charges or stationary requirements. No holiday, sickness or maternity cover to organise. No recruitment needs or training costs. Savings can range from 10% to 60% with an average saving of 32% Efficiency & Quality An accurate, efficient and compliant service Consistent, reliable, hassle free and confidential. Guarantee of accuracy and compliance removing risk of errors Significantly reduce the risk of over or under payment, fraud, interest, penalties and expensive litigation costs Payroll performed effectively and on agreed schedule Control systems to monitor payroll for inaccuracies and discrepancies Expertise Advice in relation to benefit in kind, pensions redundancy and termination payments and all other payroll matters Access to a team of payroll and tax professionals for specialist tax advice Access to tailored payroll reports & analysis Compliant with taxation, employment and legal requirements, Revenue, Data Protection and Anti Money Laundering legislation Confidentiality Sensitive payroll information is kept confidential and secure Compliance with Data Protection legislation and payroll data maintained under strict security controls Free up Resources Allow management and key staff to focus on your core business Complete peace of mind that you are fully compliant with all statutory requirements 2

4 WHY CHOOSE HUGHES BLAKE: We offer a high quality and cost-effective payroll service that integrates seamlessly with your organisation. We can help you stay compliant, pay your employees on time and meet your Revenue obligations. Our advanced payroll system means we can sustain the most competitive accuracy levels for your payroll and easily adapt to any changes in your business. Leaving you to focus on the core activities that add real value to your business. Choosing Hughes Blake as your trusted strategic business partner we can help you in every area of your business. Our team strives to provide a top class client service and goes beyond meeting our clients expectations, allowing you to focus on running your business. You will have access to dedicated payroll knowledge and expertise. As an experienced payroll service provider, we have significant knowledge to ensure a smooth setup of payroll information. We guarantee to make the process as seamless and as easy as possible. Outsourcing your company s payroll function to Hughes Blake, means you save on the cost and responsibility of in-house payroll staff. You can move all or part of this workload from your office to ours. Regulated by Chartered Accountants Ireland and subject to Institute review to ensure our high standards are independently audited. Hughes Blake have an excellent track record of delivering high quality services to a wide range of clients from small businesses to large multinationals. We are client focused and want you as a client. We value our clients and believe we can make a real difference to your business. With Hughes Blake you know your employees will be paid on time and it is this straight forward, economical and reliable service that provides complete peace of mind for you and your employees. 3

5 TESTIMONIALS: Don t take our word for it, see what some of our payroll clients are saying about our services:- Our payroll is so complex that no two payroll periods are ever going to be the same, but given Hughes Blake s wealth of payroll knowledge, we knew our payroll was in safe hands. We are able to focus on our core business with the assurance that our employees are paid correctly and on time. We have found them to be extremely thorough and reliable and would recommend them to any other business looking to outsource their payroll. Jim Lovett, Director, Crystal Cleaning and Maintenance Hughes Blake are extremely professional and are always at hand with advice and helpful suggestions. We found them to be efficient and cost effective. Each payroll is delivered on time and to schedule. We greatly value our business relationship and look forward to working with Hughes Blake for many years to come. Rene Tamerus, CFO, Van Vliet Flower Group FULLY MANAGED PAYROLL SERVICES: Hughes Blake s fully managed payroll service requires the employer to provide the payroll data on an agreed spread sheet. We will then provide the following services:- Seamless set up of the payroll data on our payroll system Flexible deadlines for receipt of payroll information Facility to add unlimited number of employees Preparation of weekly, fortnightly, bi-monthly, 4 weekly, monthly and quarterly payment frequencies Calculation of PAYE, PRSI, USC, pensions and other deductions Calculations of BIK on benefits Calculation of annual leave and bank holiday entitlements Password protected payslips for employees EFT payments to employee bank accounts Preparation and administration of P45 s and leaving pack Completion of P30, P60 and P35 using Revenue on Line Service Completion of employees forms e.g. maternity, social welfare, mortgage etc. CSO Filings Attendance on site to assist with payroll run Monitor payroll for tax efficiencies for employer and employees Customised payroll management reports tailored to your requirements Dedicated technical support to assist with employee pay and tax queries Updates on budget and payroll changes Maintenance of payroll records for future reference Maternity & sick leave payroll cover 4

6 EXECUTIVE PAYROLL: Companies are seeking to outsource the payroll requirements of the Executive Team to a payroll provider outside of their own payroll department. This allows key financial and personal data of the Executive Team to be maintained privately and confidential. Hughes Blake is experienced in providing Executive Payroll Services and will liaise directly with the Chief Executive or the Chief Financial Officer. ADDITIONAL SERVICES: Hughes Blake is more than just a payroll provider. As a multi-disciplinary firm we can assist you with; Tax registration and annual tax compliance Bookkeeping and management accounts Preparation of annual accounts and Audit Company Secretarial Services Tax planning & consultancy Corporate Finance Services Pensions & Financial Planning Advice ABOUT HUGHES BLAKE: Hughes Blake is the fastest growing multidisciplinary firm of trusted advisors in Ireland. We specialise in owner-managed, entrepreneurial and family-owned businesses and we provide a range of services including audit, tax, corporate recovery, company secretarial and strategic corporate advice. We are one of Ireland s leading insolvency firms and recognised in the market as the specialists for examinerships. Hughes Blake is the Republic of Ireland representative of Integra International, a global association of independent accounting firms. The firm was founded on Grafton Street in 1922, so we ve been advising businesses since the foundation of the State. Today, with offices in Dublin and Enniscorthy, we are one of Ireland s top accounting, audit, insolvency, tax consulting and financial services firms. Registered to carry out audit work and investment business in Ireland by Chartered Accountants Ireland and in the UK by the Institute of Chartered Accountants England & Wales. 5

7 CONTACT DETAILS: Kieran McCarthy Partner Tel / Garry.doyle@hughesblake.ie Garry Doyle Manager Tel Garry.doyle@hughesblake.ie Kari Moller Payroll Administrator Tel Kari.moller@hughesblake.ie Yi Zhang Payroll Administrator Tel Yi.zhang@hughesblake.ie OFFICE DETAILS: Joyce House, 22/23 Holles Street, Dublin 2. Tel (1) Fax (1) Clonhaston, Enniscorthy, Co. Wexford. Tel (53) Fax (53) th. Floor, No. 5 Lapps Quay, Cork. Tel (21) Fax (21) Web info@hughesblake.ie 6