Do you need us to explain the implications of ‘Real Time Information’ to your payroll clerk/bookkeeper?
It is vitally important to run your payroll proficiently, ensuring that you pay your staff accurately and on time but this is only half the equation. Equally important is staying fully compliant with the complex HM Revenue & Customs (HMRC) requirements, ensuring you’ve paid the right amount of tax, at the right time and fulfill the complex reporting requirements surrounding staff pay and expenses.
With HMRC’s Real Time Information initiative rolling out to all employers the risks of non-compliance resulting potentially in an HMRC inspection and financial penalties will only increase for those employers under-prepared or unclear about their new obligations.
Our PAYE Health Check provides a complete audit of your existing payroll policies and procedures, identifying potential areas of risk, and providing you peace of mind by preventing issues escalating to the attention of HMRC and incurring costly liabilities in the future.
One of our tax-trained payroll professionals will visit your organisation to conduct a thorough review of your payroll policies and procedures, including all aspects of directors’ pay and benefits, termination and redundancy payments, non-taxable payments and benefits-in-kind. We will also review your expenses policy and procedure and advise on any Class 1A NIC implications. You will be provided with a report outlining your current position, identifying potential areas of risk and providing recommendations to resolve any problems areas.
Priced on a transparent fixed-fee basis, our PAYE Health Check is a cost-effective way of ensuring full HMRC compliance for your payroll and peace of mind for your organisation. After such a thorough examination of their payroll processes, many of our clients decide to hand over their payroll to us, we would welcome the opportunity to chat this through with you.
For more information see our …
- The basics of PAYE helpsheet
- The construction industry scheme helpsheet