SME’s could be saving almost £16,000 a year by outsourcing payroll services

Leeds-based Cheney Payroll Services has revealed that the UK’s 247,000 small and medium sized businesses can benefit from significant cost savings by engaging a specialist payroll bureau service, rather than tackling pay and remuneration in-house.

The rapidly contracting economy is compelling business owners to scrutinise every outgoing and make cost savings wherever possible.  With businesses facing tough times ahead, SMEs can make huge savings by outsourcing their payroll function to specialists.

Typical Cost Savings using Cheney Payroll Services

Company Size,

by number of employees

Cheney Payroll Bureau Service, Annual Cost inc VAT* 

Annual Saving

50£2520£20,178
100£5040£17,658
250£12,600£10,098
Average all SMEs£6,720£15,978

Based on a fixed cost of £3.50+VAT per employee per month, business owners can save valuable time and money, freeing up bosses so they can focus on getting back to business after lockdown.

Why is Payroll So Complicated?

Payroll can be fraught with complex detail at the best of times. Rapidly changing legislation, taxes, absences, minimum wage changes, leave, pensions can be demanding, even when it’s “business as usual.”

What’s Different Now?

The added pressure of frequently changing legislation since lockdown, has added another set of hurdles for SME bosses who manage payroll in-house.

Martyn Cheney MD of Cheney Payroll Services: “Payroll is an ever-changing landscape. Never have we seen more change in our field than during the current crisis. New legislation, and interpretations of regulations are forthcoming almost daily, and it’s nigh-on impossible for business owners to keep up.”

Martyn Cheney has more than 30 years’ professional payroll expertise, managing complex systems for UK trade, industry and privately held companies across the UK. Seeking to simplify the ever-changing intricacies of payroll for SME’s, Cheney Payroll Services has developed a streamlined bureau service for business owners across the UK.

What is the Cheney Bureau Payroll Service?

  • Outsourcing all payroll services, charged at a fixed cost per employee, per month
  • Recognised by The Chartered Institute for Payroll Professionals, Global Payroll Association and The Association of Independent Professionals and the Self-Employed
  • Using fully functional using secure cloud-based system with a self-service app

Fully Managed Two-Tiered Service Saving Time and Money

Tier 1

Comprises provision of employee payslips, monthly payroll reports, advising HMRC of tax liability per period, completion and year end filing to HMRC, completion of year end P60, SSP/SMP/SPP/SAP/calculation, submitting EPS & FPS returns to HMRC, providing P45 when required, and pension auto endorsement and processing.

£3.00 + VAT per person per month

Tier 2

As above, plus paying employees via BACS payment.

£3.50 + VAT per person per month