They made us do a manual trial balance once, I feel for you. I have a calculator with a till roll, not used it in forever though
You may or may not know that in many SMEs (up to several thousand people employed) the COO or FO or similar signs off the payroll.
Considering its the biggest expense in virtualy all SMEs, I'm not surprised.
I've worked in a place where we had to post any cheques over £500 off to the FD of the parent company.
And that any board reviews both payroll and HMRC/taxes, as totals, as part of monthly review of management accounts sitting around the board table.
Perhaps they do, when did I declare myself as chairman of the board? Or indeed, sole provider of knowledge to the hallowed halls of power.
Which is why I find it so strange that you seem to know nothing about what the average payroll rates are in the UK.
Why? Because I've said, "I've never never worked in payroll" at least once, just in thread?
My current employer just levies a flat fee of 20% on top of the actual wage cost to cover NI, Pensions, and presumably maternity, but I'd have to double check that. It may include HR, or may not.
I mean a lot of people know what they are, right from clerk level to board level, and the chairman will definitely know. And yet you, doing your CBAs, and supposedly with CIMA, haven't got a clue??
Well I'm sorry if I disappointed you, but I have nothing to do with payroll and would very much like for that situation to remain unchanged.
I also have almost know knowledge of Corporation Tax, although have a passable knowledge of obscure VAT.
Golly, I'm kind of taken aback that someone CIMA-trained uses *that*. Or even knows of its existence.
Why? Since I dont do anything professional with Payroll, its suitable for my needs.
I'm hardly stood with a restrained patient, a scalpal and heart surgery wiki....
Whats more disapointing is I didnt bother to actualy check on there if I was right or not.....
But all of this is drawing away from the key point that jobs are cost sensitive, and wages are a cost.
If the only cost to a business is Labour, if you can sell your labour service at £15 an hour, and hire Labour for £14.99, you can make a profit and its a sensible business decision, but if you must pay your Labour £15.01, you cannot make a profit, and so wouldnt do it.