Employees are the most important part of any business – without employee’s the business cannot function. Many employers look for innovative ways to ensure that the employee’s are rewarded tax efficiently and remain highly motivated. There are numerous ways including cash incentives, varying types of benefits in kind and share incentive arrangements. All these can be attractive to employees but it is important that employers get the balance right.
As well as ensuring that employees are rewarded for their services, employers must also ensure that they are compliant with the UK tax regulations. This is no small task with the government and HM Revenue & Customs constantly changing the rules, introducing new requirements and strengthening the penalty regime for compliance failure. Large businesses already have the requirement to certify that their processes and procedures produce the correct tax calculations under the Senior Accounting Officer regulations and many smaller businesses are following these to ensure that they are also compliant should Her Majesty's Revenue and Customs (HM Revenue and Customs or HMRC) is a non-ministerial department of the UK Government responsible for the collection of taxes, the payment of some forms of state support and the administration of other regulatory regimes including the national minimum wage.... come calling! In today’s climate we believe that businesses should lead the way in being compliant and not fear a visit from HMRC.
Our Employment taxes specialist has significant experience in the area of assisting companies meet their PAYE/NIC obligations in the UK. We have advised businesses from global organisations through to local businesses, helping them to introduce policies/procedures and where necessary voluntarily disclosing errors and negotiating settlements with HMRC.
Our Services are led by Paul Spenceley, who has specialised in employment taxes for over 25 years and is currently a member of the Chartered Institute of Tax technical sub-committees on both employment tax and the management of tax. Prior to joining TAP Paul worked for a Big 4 firm dealing with personal tax, employment tax, The Construction Industry scheme, expatriate tax and share schemes.
At TAP we are able to offer our clients Big 4 expertise, but with a more open and flexible approach to client service and fees.
The services that we provide cover a substantial area and include the following:
- Resolution of complex PAYE/NIC issues
- Support on tax investigations including settlement negotiations
- Employment tax risk reviews, including reviewing policies/procedures from a Senior Accounting officer perspective
- Expense policy reviews from a tax perspective
- Employment status reviews
- Assistance and guidance in relation to completing forms P11d, applications for P11d dispensations, PAYE settlement agreements, trivial benefit rulings, share scheme reporting, third party benefits and taxed award schemes
- Advice and implementation of tax efficient remuneration packages including salary sacrifice arrangements
- Advice in relation to expatriate taxation, including short term business visitor agreements, modified PAYE schemes, certificates of coverage applications, statutory residence test, relocation expenses, travel expenses and employees UK tax returns
- Construction Industry Scheme including registrations, system reviews, gross payment applications and appeals against HMRC decisions
- Due diligence work
Tel: 0113 426 9309 or 07825 292546