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payroll outsourcing

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › payroll outsourcing

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by Kim Smith.
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  • July 5, 2021 at 3:16 pm #627020
    aarti2407
    Member
    • Topics: 36
    • Replies: 8
    • ☆

    Dear Ma’am,

    “The payroll processing transferred to Coral Payrolls Co(external service organisation) from 1 January.
    Errors may have occurred during the transfer process at the time of outsourcing.
    There is a risk that the payroll charge and related employment tax liabilities are under/overstated.”

    Ma’am i do not get this last sentence correctly, relating to payroll charges and employment tax liabilities, like what exactly are they? and how do they get affected through a transfer process?

    Appreciate your time and efforts:)

    July 5, 2021 at 7:04 pm #627034
    Kim Smith
    Keymaster
    • Topics: 100
    • Replies: 6789
    • ☆☆☆☆☆

    As at 31 December, to audit client has “run a payroll” and let’s say it pays all employees their net pay due on 31 December by bank transfer. But the tax and other deductions from the employees’ pay (e.g. social/national insurance) won’t be paid over to the tax authority until due (e.g. on the 14th of the following month – it doesn’t matter when – I’m making this up – it would depend on the jurisdiction).

    All the answer is saying that depending on what is transferred, there could be mistakes – e.g. both the audit client and the service provider might pay the liabilities at the date of transfer – or neither (!)

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