Hi, I am looking at offering a paye service in the future. Have a little knowledge but no qualifications. I am a member of ICB. I am finding that I am getting enquiries that need book-keeping and payroll. Can anyone give me any advice. Am I right in thinking that if I do a paye course with ICB my insurance will cover me.
Have had a look at 12pay. Also have used sage payroll a little. Just want to make sure that I set up and provide a service eg that I am allowed to do and covered by insurance.
If you pass the ICB Payroll Diploma and you are insured through Trafalgar you should be covered.
An extract from the trafalgar policy
Business Activity
means the activity(ies) shown in the Schedule, which the Insured performs in the ordinary course of business as a Bookkeeper for which the Insured is remunerated.
Not covered: Any contract where the Insured has failed to take reasonable steps, either before or during the contract, to ensure they could meet the requirements of the contract having regard to the resources and skills available to them.
There are lot of other exemptions to the cover but thats the relevent one
Bill
-- Edited by Wella on Wednesday 24th of February 2010 11:36:20 AM
You could always outsource the payroll to someone else until you are able to provide it yourself. That way you won't miss out on the jobs that require bookkeeping and payroll.
Payroll is one of the easiest services to outsource because most if not all of the paperwork and information can be sent electronically from anywhere in the UK
You can either find a local payroll provider or accountant who does payroll and outsource to them or you could use a company like ours (Seahorse (UK) Limited) who do this for accountants and bookkeepers.
Sorry - I'm a bit short on time at the moment - the girls have a ballet lesson - but if no one else goes through the process I will explain it in more detail later.
As like Zoe, I also do payroll for accountants. It's quite straight forward really. They just send gross figures on a pre-agreed date, I calculate the payroll (mainly using 12 pay) and email the payslips and payroll reports to them once completed.
