PAYE & NIC are generally thought of as one of the most policed taxes and if mistakes are made the penalties can be severe. When HMRC carries out their next employer compliance visit, is your business at risk of falling foul? If you haven’t had a visit from HMRC in over three years, then you can expect one soon!
Liabilities can arise from innocent errors and insufficient understanding of complex tax issues, such as expenses and payroll. With fines reaching record levels, businesses must be prepared for when the Revenue comes knocking.
For many businesses, keeping up-to-date on changing regulations is one of the biggest challenges and can be a strain on both financial and human resources.
In order to minimise or avoid the costs an HMRC visit, issues need to be identified early. That’s why our PAYE health check helps you recognise and address potential weaknesses in advance of an HMRC review. By meeting with your team responsible for payroll, expenses policy and authorisation, and employers’ and directors’ benefits, we can review your procedures and provide a report which highlights areas of concern and suggestions for improvements.
David Wright a partner in Moore Stephens comments: “Many of our clients get piece of mind prior to an inspection by undertaking our PAYE & NIC Healthcheck, ensuring that they are compliant in the first instance. Alternatively following a PAYE & NIC inspection, issues and liabilities can inevitably arise. We can help you review HMRC assessments and can negotiate with them on your behalf to help ensure that liabilities and any enforced penalties are kept to an absolute minimum.
If you want to prepare for a visit from HMRC or have already received one, our specialist team can assist you with preparation, advise on due diligence reviews of your compliance procedures and help you handle any issues HMRC identify.
If you have any concerns regarding your payroll find out more information about our health check service, by contacting David
or your usual Moore Stephens adviser.