Reduce your payroll costs by outsourcing to Firefly

Firefly is a payroll bureau which offers a range of payroll services to businesses based in the UK. We perform all the functions of an in-house payroll department but at a fraction of the cost. Our payroll consultants have over 15 years of professional payroll management experience. We are members of the Institute of Payroll Professionals and also registered under the Money Laundering Regulations & Data Protection Act.

Administering payroll for your employees is time consuming and needs to be done correctly to comply with HMRC regulations. The consequences of getting this wrong could result in investigation by the Inland Revenue and could ultimately lead to heavy fines and even prosecution. This is why it is essential to employ an experienced professional to ensure your payroll processing is accurate. This can be in the form of an accountant, a payroll bureau or if your business is large enough an in-house payroll department.

It is essential that you choose the right method for your business. This is determined by the size of your company and its employee headcount.

• For smaller companies the option to use an in-house payroll department is unjustified. Accountants are usually asked to undertake the payroll administration for small businesses with employees under 20 people. However, as accountants do not offer this as a dedicated service it means they are unable to provide 100% of their time to maintaining your payroll. They are also rarely members of the Institute of Payroll Professionals or maintain a commitment to keeping up to date with statutory payroll legislation. Quite often their services are considerably more expensive than using a dedicated payroll provider. Small companies can still benefit by outsourcing their smaller payrolls.
  

• For companies with over 20 employees it is necessary to start investing in dedicated staff to handle your payroll requirements. This could be a task taken on by an existing employee such as an office manager or administrator. However, the complexities of the role often means that this soon becomes time consuming, and there is still a need to keep up to date with statutory legislation. There are also new costs involved in ensuring you have the right HMRC accredited payroll software and its associated licensing along with the right I.T infrastructure. Soon the demand on your business becomes significant.
  

• Larger companies already using an established in-house payroll department are committing huge amounts of resources in its running costs. Employing a dedicated qualified payroll administrator means a financial outlay of tens of thousands of pounds per year. Depending on the payroll processing requirements it may be necessary to employ a number of payroll professionals. This represents a significant proportion of the operating costs for a company.

Outsourcing your payroll administration allows you to free up valuable capital and staffing resources.

Whatever the size of your business you can benefit from outsourcing your payroll to a dedicated team of payroll professionals. You will receive an accurate and efficient service and significantly save on your payroll budget.

Why Use Firefly?

Larger payroll companies quite often administer the payrolls for organisations with over 10,000 employees. Processing a payroll for clients of this size takes up a lot of resources. This means smaller clients receive an inferior level of service. Quite often they are also paying a higher price per payslip. Unlike larger payroll companies Firefly limits its services to businesses with less than 2000 employees. This means that we are able to provide a better level of customer service for our clients and their employees. We are also more cost effective with rates lower than most accountants and combined Payroll/HR providers. Depending on the size of your company moving to Firefly could save you up to 80% of your existing payroll costs. Furthermore, all of our costs are fully inclusive.

Many payroll companies provide only a partially managed service. Essentially, your business would still need to employ a payroll specialist to set up new starters, collate payroll data and in some cases, even input timesheets to payroll software. You would then submit a data file to the payroll company who would import it into their computer systems, using the information supplied to calculate the payroll and produce payslips. Firefly provides a fully managed payroll service. This means that we provide ALL the services of an in-house payroll. Your company sends us raw data (new starters, leavers, overtime etc). We will then check these and input them to your company’s database held on our payroll system. We then calculate the payroll, produce reports, transmit any BACS payments, print the payslips and any other payroll forms (P45’s, SSP1’s etc).

Employee Helpline

The majority of payroll companies request that you appoint a liaison manager to act as a go-between for employee pay queries. We make no such request and are happy to assist your employees with any payroll related queries and for them to contact us directly with such queries. Firefly offer a dedicated employee helpline service where your employees are able to contact us by phone or via email.

Relax and let Firefly take control, enabling You to concentrate on your business.

Payroll Services