No more drama: How Capium's payroll module cuts through P11D admin

Posted by Capium on Jul 5, 2019 4:37:09 PM

Even in a profession filled with bugbears, the form P11D inspires unique annoyance among accountants. In short, the forms pass the burden of taxing benefits and expenses onto employers and their accountants.

 

Notifying HMRC of employees’ expenses and benefits can be a lengthy process, adding yet another layer of admin onto the already bureaucratic payroll process.

 

The P11D process has seen its share of changes and tinkering. Voluntary payrolling of benefits came into effect in April 2016, along with the end of dispensations. There was also the removal of the £8,500 threshold and, after a lot of confusion, the establishment of a clear set of statutory principles to assist in defining a trivial benefit.

 

What has remained consistent, however, has been the deadline: July 6. This year, the arrival of July has crept up on many of us, after that unseasonably wet June. But here it is none-the-less, and with the P11D deadline fast approaching, many businesses might be scrambling to get everything ready on time.

 

It’s precisely this sort of admin that has made many accountants shy away from offering payroll processing. It’s long, technical and, let’s be honest, pretty damn boring. But it’s also a healthy, recurring revenue stream to miss out on.

 

Technology is the answer to providing payroll services, while also maintaining your sanity. Capium features a specialised payroll module that automates the payroll calculation and submission process. 

 

We take a few steps further than just that, however. Capium’s payroll module can also generate payslips and offers great reporting tools. With our advanced payroll functionality, additional forms, like P11Ds, can be generated and submitted in the software.

 

It’s not full automation, and we can’t completely remove the difficulties of payroll processing, but Capium drastically reduces the time and effort required. It’s like what the legendary British cycling coach Sir David Brailsford liked to call ‘marginal gains’.

 

The many efficiencies of using Capium’s payroll module add up. In isolation, they might not seem like much but strung together in a beautiful, coherent way, these improvements make a big difference.

 

For accountants, it opens up a new pathway to profit. Payroll work that isn’t an admin nightmare, and instead becomes a healthy, recurring revenue stream to add to your service mix. All you need is the right software partner.

Topics: Meet deadlines, P11D, Payroll