Quarter 3 review..

As we approach the start of quarter 4, I think it’s fair to say that for many internal payroll and HR departments the last 6 months will have been the most challenging ever. The challenges of remote working and keeping abreast of all the new government Covid initiatives not to mention downsizing (or upscaling) team counts whilst having to cope with all the pressures that come with lockdown (now thankfully easing in some areas) and internal sickness has left many payroll managers, understandably, worn out.

As the Job Retention Scheme (furlough) draws to an end on 31 October we now know this will be replaced by the Job Support Scheme so there is no light at the end of the tunnel in terms of learning new rules and carrying out tasks outside of the normal scope of work for 6 months at least. There is also the £1000 Job Retention Bonus to claim in February for furloughed staff still employed on 31 January.

Many internal payroll managers have looked to their external accountants for support during these unprecedented times and whilst some have stepped up to the plate, many have furloughed staff themselves or struggled to work remotely. An added frustration that has led many business owners to question whether they are partnering with the right firm of accountants in Corona Virus times.

As 6 April approaches and those expensive payroll software and support invoices start hitting business owners’ inboxes, it is inevitable many of them will be thinking about the benefits and cost savings of outsourcing payroll to a dedicated, expert bureau such as 5Four (the payroll arm of 360 Chartered Accountants). If this is the case for your business then we’d love to talk.

Andy Steele, Director , 5Four Payroll

29 September 2020

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