Payroll outsourcing: A smart move

At Accounting Services, we specialise in providing professional, fully compliant payroll solutions for companies and self-employed individuals across Malta. Whether you’re a start-up, SME, or a growing enterprise, outsourcing your payroll to experts like us can save time, reduce costs, and eliminate risk.

Payroll is the process of calculating and distributing employee wages, deducting taxes and national insurance (NI), and ensuring that all statutory obligations are met. In Malta, this also includes adhering to the Final Settlement System (FSS), issuing payslips, and maintaining detailed wage records from the start to the end of an employee’s tenure.

Even for small teams, managing payroll isn’t always straightforward. As your business expands, so does the complexity. Mistakes can lead to fines, reputational damage, and staff dissatisfaction. Some businesses attempt to manage payroll in-house using payroll software. While this may offer more control, it also comes with risks:

• Human error in calculations or reporting
• Data security issues and potential loss of sensitive employee information
• Non-compliance with ever-evolving Maltese employment laws
• Overburdened HR departments or unqualified staff handling complex tasks

When weighed against the benefits of outsourcing, it’s easy to see why more and more Maltese businesses are turning to payroll specialists for support.

Outsourcing payroll to a trusted provider like Accounting Services offers a multitude of benefits:

Cost Efficiency

Avoid the overhead costs of hiring, training, and retaining in-house payroll staff. We help you prevent costly mistakes in tax filings and NI contributions, saving you money long-term.

Time Savings

Reclaim your time. We handle the time-consuming administrative work—allowing you to focus on strategic business growth and customer service.

Expert Support

Our payroll experts are always up to date with local legislation and best practices. We ensure full compliance and accuracy in every step, from monthly FS5 submissions to year-end FS3 and FS7 reporting.

Data Security & Confidentiality

We safeguard your data with strict privacy protocols and secure systems, giving you peace of mind that your payroll information is in safe hands.

Scalability

Whether you’re hiring your first employee or managing a team of 50, we adapt our services to your needs and help with everything from onboarding to terminations.

Our payroll services in Malta include:

• Registration for the Permission to Employ (PE) number
• Employee engagement and termination paperwork with Jobsplus
• Monthly payroll processing, payslip generation, and FS5 submissions
• Calculations for working hours, overtime, breaks, leave entitlements, NI, sick leave, and notice periods
• Annual statutory reports: FS3 (individual earnings) and FS7 (company reconciliation)
• Ensuring compliance with tax laws, SSC/NI contributions, and the Maternity Leave Trust Fund

Payroll isn’t just about numbers, it’s about building trust. Let our seasoned accounting team handle the details so you can focus on building your vision. Effective payroll management ensures your employees are paid correctly and on time, your business stays compliant, and your operations run smoothly. Whether you’re a company or self-employed individual, outsourcing payroll services to a trusted provider like us is a practical, cost-effective solution. Let us help you simplify your operations and grow your business with confidence. Contact us today on admin@accountingservices.com.mt.

Fairwinds Management Limited is a MFSA licensed firm offering Business Solutions in Malta. As part of our services, we offer Accounting, Administration, Corporate and Legal solutions.  Fairwinds Management also manages the brand Accounting Services. More information about us and our key services please visit our website. You may reach Fairwinds Management on +356 2704 0903 or info@fairwindsmanagement.net.

Article written by Ms Charlene Sciberras, B.A. (Hons), guest writer, a marketing and business administration specialist with a special focus on corporate, accounting, and legal matters.