Payroll & VAT
PAYROLL AND END OF YEAR RETURNS
When you have employees, life becomes more complicated in many ways, especially as regards your financial responsibilities. Payroll is complicated and has to be done on time. What’s more is that you, as the employer, are responsible for the mistakes.
Nor is it easy to avoid. When you get someone to do work for you, you may not be expecting to take on the responsibilities of employer, but sometimes the rules say you have! We can advise on employment status and IR35 defence (i.e. keeping you outside the scope of one of the trickier bits of legislation on this) to help keep you out of hot water.
Also, when you pay yourself a salary from your own company, the same set of paperwork is required and the tax implications are the same as if you were an ordinary employee.
But don’t panic! We can take charge of it all and just do it for you. Or, if you prefer, we help you set up systems to carry it out yourself or just do the bits you don’t want to. This means we can take charge of :
• payrolls
• employee payslips
• monthly summaries
• departmental reports
• P45’s for leavers
• PAYE returns for HMRC
• CIS returns (Construction Industry Scheme)
Also we can:
• help set up automated payment to your employees
• produce year-end PAYE returns including P35s, P60s & P11Ds
• ensure correct statutory sick pay or maternity pay is paid
• deal with tax credits and student loan deductions
• advice on all employment tax issues
VAT
VAT compliance is becoming increasingly difficult. The level of intensity of VAT investigations has increased over recent years, making it all the more important that your VAT returns are completed correctly.
VAT Returns
We complete VAT returns in good time to ensure you avoid any penalties. We can do the bookkeeping too or we can take your books and complete the VAT returns from there.
We are also happy to train you to complete your own VAT returns.
Other help we can give includes:
• applying for your VAT registration
• suggesting the best VAT scheme for you
• VAT planning
• dealing with any Customs disputes.
• attending VAT inspections.
• representing you at VAT tribunals.
VAT Registration
To issue sales invoices correctly with VAT on, you have to be registered for VAT first. Also you need to register in time to avoid penalties.
When you do register, there is a range of different schemes you can choose. Some you have to notify HMRC you are using and some you don't.
We can advise on the schemes to use and register you. We can also help you maximize VAT reclaims on expenses within the strict rules which apply.
VAT control visits are usually made within the first few years of trading and then once every few years. If you let us do your book-keeping and VAT returns, these visits need not be a worry, as you can be sure returns will have been accurate and compliant.
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