The benefits of outsourcing your payroll

Your company’s payroll needs to be done accurately to avoid fines and disgruntled employees. This can be a big challenge in a constantly changing landscape of laws and regulations. Besides the correct payment of income tax and pension and social security contributions, there may also be questions about related topics such as subsidies, international employee travel, dismissal regulations or flexible working. Crowe Peak can help you with payroll administration in a way that suits your organization. You can outsource all or part of the payroll administration to us and we can help with questions on all kinds of topics such as employment law, pension, immigration law and (other) tax expertise.

Managing your own payroll

Managing your own payroll is not only a risky business, but also a costly one. You obviously have to count on staff costs for the administrative department, but keeping their knowledge up to date also costs money and you must consider the purchase of professional literature or the cost of seeking professional advice. In addition, keeping payroll records also requires the purchase of a software package. Moreover, there are major costs in case of incorrect payroll, both in extra working hours of your staff and possible fines that follow.

Outsourcing payroll to Crowe Peak

When payroll is outsourced to Crowe Peak, we set up an online administration system in which we keep the payroll records. The system can be accessed at any time, but we bear responsibility for the correct payroll of your employees from then on. In addition:

• We do the periodic notifications to agencies, such as the Tax Office or pension funds;
• We provide required pay slips, payroll journal entries, wage statements, payment statements, payment files and payroll declarations;
• We make trial calculations, such as gross-net calculations, if required;
• We answer all questions related to salary and remuneration, such as working expenses regulations, collective agreement changes and other issues.

You can also choose to keep part of the payroll administration in-house. In that case, you can keep your own records in our online administration system and we offer support in the correct application of premiums and deductions. In addition, you will be assigned a personal adviser who can help with any questions your organisation may have.

Thinking along with policy

One advantage of outsourcing payroll (even if it is partial) to Crowe Peak is that we can think along with you about your employees’ remuneration policy. This includes advice on issues such as:

• The taxability of certain work;
• Pension as a component of remuneration;
• The tax differences between employees and self-employed persons;
• The company bicycle
• The working expenses scheme; and
• The 30% rule for foreign employees

Based on the data Crowe Peak provides insight into that data, there is better insight into the operational costs of your enterprise activities, which can be relevant in issues of expansion and growth.

Software and data analytics 

Another advantage of outsourcing payroll is that our smart software can be used, which is capable of performing data analysis of both its own information and the payroll data of other companies in the same sector. This allows you to spot economic trends and patterns on the basis of which strategic choices can be made. For example, with insight into the exact (hidden) costs of employees, you can make choices about the possible expansion of operational activities. With insight into the remuneration of employees at other companies or the labor market in the sector (tight or wide), you can determine your optimal remuneration policy.

International network 

Crowe Peak is part of Crowe Global, a top-10 accounting network with members in 150 countries worldwide. When doing business across borders, you also benefit from our local knowledge and know-how of international markets and tax regulations. We also have extensive experience in setting up payroll for international companies coming to the Netherlands. We can help with specific concerns, such as:

• 30% ruling; 
• Extraterritorial costs; 
• Points of interest in case of secondment; 
• Shadowpayroll.

Would you like to know more about the possibilities of outsourcing your company’s payroll? Get in touch and discuss the possibilities with one of our specialists without any obligation.