setting up bacs for payroll

lorraine
lorraine Registered Posts: 404 Dedicated contributor 🦉
edited June 18 in AAT student discussion
I have just started out self employed mip, and am thinkin about offering payroll how easy would it be to set up bacs payment for customers?

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  • payrollpro
    payrollpro Registered Posts: 425 Dedicated contributor 🦉
    Hi Lorraine,

    None of this is particularly hard to do, its just expensive. Firstly dont start until you have added MLR regulation to the MIP registration. Any accounting service, including payroll is makes you and accounting service provider ASP under the MLR so you need to be regulated by AAT or HMRC.

    Secondly it depends what software you use. Getting the right version will allow you to become a bacs user through them but remember it is a separate facility so you have to pay to be a user of the payroll software and also separately to be a bacs user.

    Also of note is making sure you have back up for payroll technical matters and an advice service which can give you answers to payroll questions, I have found that the AAT's advice service for MIP's to be a little less than I would have hoped.

    Payrollpro

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