A new West Wales payroll services business is looking to expand with support from Tata Steel subsidiary UKSE.
UKSE has provided a £7,500 Regeneration Loan to Augustus Payroll Services to help it acquire a Bristol-based firm in the same sector as part of its growth strategy.
With a wealth of experience in payroll, Kay Augustus has set up the company in Ammanford and plans to employ six staff and turnover £500,000 within three years.
Acquiring the Bristol firm represents a major step forward adding some 85 new customers in a range of sectors in Bristol and across the south of the UK.
“We now have a diverse and wide-ranging customer base on which we can build and we are excited to be working with these clients and helping them make their payrolls more efficient and cost effective,” she said.
Kay has many years’ experience in payroll, an area she feels is often undervalued by businesses. “People tend to see it as an administrative burden, simply a task to be done. There’s much more to it than this and spending time getting things right is well worth it,” she said.
She stresses the importance of getting it right and avoiding costly mistakes. “Penalties for getting things wrong can be high,” she said. “These can be up to 100% of the potential lost revenue to HMRC in some circumstances. Also, failing to pay the National Minimum Wage can lead to fines of £20,000 per underpaid worker and persistent offenders can be banned from being a Company Director for up to 15 years”.
Howard Thompson UKSE Regional Executive said: “We are delighted to support Augustus Payroll Services. The firm is planning to create local jobs which will boost the economy. As well as this it will provide an important service to local companies and clients farther afield helping them get their payroll systems correct and make them more efficient. We wish them every success.”