Family Businesses: Should Payroll Staff Be on Your Payroll? - Cantium

Subscribe to our News and Insights

I am interested in

Insights

News

Podcasts

Marketing Permissions

If you are also happy to receive marketing information in relation to our products and services, please tick here:

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here.

Family Businesses: Should Payroll Staff Be on Your Payroll?

By Danielle Hayon • 18 March 2020

Payroll insight - header
The below insight has been written by Gill Nye, Executive Head of HR at Cantium Business Solutions:
In previous posts, we have explored various peculiarities of the family business, many of which stem from a lack of relevant experience and inadequate resources. These challenges are evident in many areas of a typical family business, CEO’s who would rather be business developers, Marketing Directors with no formal marketing background, but do have a passion of proficiency for Research & Development. It happens because family business owners are keen to have family members managing or overseeing the various departments within the business.While finding impressive job titles for the family members is understandable, the reality is that often they are not best qualified for the role and invariably their interests and passions lie in other areas.Nowhere is this more evident than the payroll provision within a family business.
For most companies, large and small, payroll is the biggest annual expenditure. It’s essential to get it right to ensure you’re paying the proper amount to your employees. More significantly, it’s critical to ensure you are filing the correct information with the Inland Revenue. Every year, the government penalises thousands of businesses for late or inaccurate Full Payment Submissions (FPS).Mistakes in an employee’s payment may be embarrassing or inconvenient, but they can be rectified. Mistakes with FPS incur penalties, which can prove very costly.
Adding to the challenge, from April 2020, the rules are due to change for contractors working with medium to large-sized clients in the private sector. Like the public sector, these clients will have to determine whether the contractor falls inside or outside IR35. Yet another example of the need for expertise and knowledge of the many rules concerning payroll, PAYE, and soon, IR35 and Off-payroll employees.Struggling with payroll is unnecessary, and getting it wrong is risky. Payroll is one of the activities that most businesses can easily outsource; it’s a function that can, and should be, handled by experts with up-to-date knowledge of the rules and regulations. Cantium provides Payroll services to many organisations who ultimately benefit by removing the day-to-day challenges, and invariably it proves to be more cost-effective than having payroll staff on their payroll.Adequate expert resources are deployed as and when you need them; so, as your family business grows, you can focus on adding personnel who deliver your core products and services. We can focus on making sure they get paid for their positive contribution.

If you are currently looking for a payroll provider, then visit our Human Resources pages for more information on the services we provide. 

More Insights

Why Move to Wi-Fi 6?

11 October 2021
For over 20 years, the Wi-Fi Alliance has been helping us all be more mobile while staying connected, launching its next iteration of the Wi-Fi protocols, Wi-Fi 6, that promises faster speeds, better reliability and plenty more. But what is Wi-Fi...
X
Arrow
Staff care services icon

HRSelect is Cantium’s new, integrated suite of HR Services previously offered under
Staff Care Services.

Cantium HR Select logo
Welcome to HR Select

Here you will find all of our HR services in one central place. HRSelect is designed to help your organisation drive its own HR strategy by easily allowing you to select the most suitable services to complement your approach.

Please rest assured that any HR services you currently buy from Cantium will continue to be delivered unaffected. If you have a log-in to our customer service portal, you can now access this from the button in the top right-hand corner of this website. On the log-in page, you will also find links to Cohort and HRSelect EmploymentCheck in the footer.

If you have queries about HR Select and would like to be in touch with a member of our team, please contact:

Arrow
Employmentcheck logo

HRSelect is Cantium’s new, integrated suite of HR Services previously offered under the EmploymentCheck.

Cantium HR Select logo
Welcome to HR Select

Here you will find all of our HR services in one central place. HRSelect is designed to help your organisation drive its own HR strategy by easily allowing you to select the most suitable services to complement your approach.

Please rest assured that any HR services you currently buy from Cantium will continue to be delivered unaffected. If you have a log-in to our customer service portal, you can now access this from the button in the top right-hand corner of this website. On the log-in page, you will also find links to Cohort and HRSelect EmploymentCheck in the footer.

If you have queries about HR Select and would like to be in touch with a member of our team, please contact:

Arrow
SPS Part of Cantium
HRSelect is Cantium’s new, integrated suite of HR Services previously offered under Schools’ Personnel Service.
Cantium HR Select logo
Welcome to HR Select

Here you will find all of our HR services in one central place. HRSelect is designed to help your organisation drive its own HR strategy by easily allowing you to select the most suitable services to complement your approach.

Please rest assured that any HR services you currently buy from Cantium will continue to be delivered unaffected. If you have a log-in to our customer service portal, you can now access this from the button in the top right-hand corner of this website. On the log-in page, you will also find links to Cohort and HRSelect EmploymentCheck in the footer.

If you have queries about HR Select and would like to be in touch with a member of our team, please contact: