Posted: September 4, 2020
Category: Compliant Payroll, Contract Working, Employment Legislation & Regulations, Gig Economy, Government & Public Sector, Payroll Technology, Solutio News

 

SPECIAL OFFER TO CELEBRATE NATIONAL PAYROLL WEEK

Any new clients who contact Solutio anytime during National Payroll Week (7th – 11th September), will qualify for a 50% reduction of all agreed deployment and implementation costs. This unique and limited offer can result in a real saving of up to £5000.00

In the first instance, please contact Solutio via either 0203 819 7970 or enquiries@solutio.com and please mention National Payroll Week to instigate this special offer.


THE VITAL CONTRIBUTION OF THE UK PAYROLL SECTOR

Solutio is delighted to support the National Payroll Week initiative organised by the CIPP (The Chartered Institute of Payroll Professionals) to celebrate the invaluable contribution payroll professionals make to the UK economy. This contribution is often overlooked even though the payroll industry contributes an estimated £325.7billion to the 2020/21 to the Exchequer in the form of collected income taxes and National Insurance contributions.

First established in 1998, National Payroll Week has grown into a genuine celebration of the numerous financial organisations, umbrella companies, software providers, associated suppliers and employees who comprise the payroll industry. Quoted directly from the CIPP:

This year more than ever, the payroll profession, like others, have been tested to their extremes and have been identified as the staff needed for essential financial services provision, namely keeping the UK paid!


THE EVOLVING PAYROLL LANDSCAPE

Quite apart from the impact of the COVID-19 pandemic, the payroll industry has had to adapt to continuous legislative change and the rapid evolution of employment trends which are transforming the very notion of how we all work and get paid. Compliance remains a significant factor particularly for the sector which services the ever-expanding contracting community including freelancers, self-employed individuals, agency workers and those operating in the so-called gig economy. In less than a generation, the traditional concept of full-time work renumerated by the PAYE system has diminished to the extent that less than half the working population are employed on this basis.

And the reality is that the decline is accelerating as a combination of prevailing socio-economic factors, financial pressures on companies and employees increasing desire to adopt flexible labour patterns intensify. COVID-19 has only served to magnify these trends as remote working, social distancing and online communication have jettisoned established employment conventions to the history books. Even in spheres where human interaction cannot be avoided such as retail, healthcare and hospitality, enforced behavioural change is transforming how these sectors fundamentally operate.

As with all industries, the payroll industry is adapting apace to help rebuild the economy in the post-pandemic landscape. Embracing new technology provides slicker, quicker and better processes; transparent gross-to-net pay calculations are now a pre-requisite and the evolution of a digital tax system ensures there will be no hiding place for any acts of non-compliance.

THE INFLUENCE OF CUTTING-EDGE TECH

Of course, these three factors are inherent in the very DNA of Solutio’s cutting-edge payroll platform which has been built from the ground up on a platform with compliance considerations at its heart. This is not necessarily the arena for a blatant sales pitch, but the very essence of Solutio is to empower payroll professionals and contracting professionals to manage, share, view and understand their pay calculations including gross earnings, all statutory (or otherwise) deductions, HMRC payments and any other transaction which affects the bottom line of their payslip.

As we approach the lead up to National Payroll Week, I encourage any entities engaged in the actual payroll process to consider if their overarching commercial remit mirrors that of Solutio’s. If not, it is only a matter of time before your processes are rendered obsolete as transparency, honesty and accuracy are the real new normal….

CONTACT SOLUTIO

To find out more about Solutio and how the platform enhances every facet of payroll performance, please contact Sophie Law on 0203 819 7970 or via enquiries@solutio.com to arrange an initial consultation or an interactive demo. Please also mention National Payroll week to instigate the aforementioned Special Offer.