Employment taxes account for a significant amount of tax revenue in the UK.
Employers face the growing challenges of adapting to new legislation and ensuring their tax risk management and strategies comply with the rules.
HMRC has also adopted a new approach to employer compliance, entitled 'Know your customer' primarily for those organisations caught by Senior Accounting Officer regulations. This approach aims to ensure that businesses understand how all stakeholders at the company work together. Failing to demonstrate compliance can lead to large financial settlements, penalties and a damaged business reputation.
Reducing tax risks to your business
Working with you, we can help identify any employment tax risks in your business. This might involve everything from completing onsite health checks to discussing particular trends in your sector. If you have any concerns, we can also review these for you. For example, you might be unsure about how employment status is determined, managing and reviewing expenses, and how policies support tax decisions.
You won’t just gain reassurance that your risk profile is right; we can also identify areas where you're paying too much tax and opportunities to reduce your employment tax costs. We can also help you design a company car scheme that maximises tax-efficiency and reduces your carbon footprint.
As a growing business, you'll also need to engage and incentivise your people. We can help you create arrangements that encourage the right employee behaviours while managing costs.
You can access our many services, which include:
- supporting your compliance with HMRC filing requirements
- streamlining your payroll reporting processes
- assisting with documenting processes for compliance with regulatory requirements
- designing and delivering the rollout of expense policies to help meet business objectives cost-effectively, while ensuring your policies comply with tax legislation
- supporting you with HMRC compliance visits, including negotiating settlements
- advising businesses on compliance with the Construction Industry Scheme
- guiding and supporting you in the complex area of employment status.
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