VAT and Payroll

VAT

Value added tax is possibly the most complicated of all the taxes. It is 'policed' most vigorously by the relevant tax authority if you get it wrong. This is why we have established a core of expertise in this area to enable us to advise you on all VAT matters.

The VAT areas where you may need assistance, depending on your individual circumstances could include:

• Assistance with VAT Registration or De-registration
• Preparation of quarterly VAT returns and provision if book-keeping services
• Preparation of monthly management accounts
• VAT advisory service in relation to specific circumstances
• Assistance for the preparation of a VAT control visit and individual support during such an examination

Calculating and disclosing your VAT liability to H M Customs & Excise is achieved by completing normal monthly, quarterly or annual VAT returns. VAT calculations can be prone to investigation by H M Customs & Excise so you may wish to opt for our fee protection insurance and seek our advice and assistance to calculate the net VAT position enabling you to rest assured that you will not pay any more VAT than necessary. We also complete all the necessary paperwork and liaise with H M Customs and Excise on your behalf as required.

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Payroll

Payroll is becoming more and more complex and time consuming to manage and process. As it can be expensive to run in-house, many businesses are choosing to outsource this administrative burden. There are many benefits to be gained by outsourcing it to an external payroll bureau. We can take on the full responsibility for processing the wages, PAYE/NIC, addressing technical matters, obtaining stationery and keeping the confidentiality of this sensitive aspect of the business away from the workplace which will allow you more free time to concentrate on running your business.

Our complete payroll bureau service works in unison with you to provide the following:

• You will advise us of the gross pay, for a weekly or monthly pay period. Some businesses prefer to run a mixture of monthly and weekly payrolls
• We will calculate the net pay, supply you with pay slips and advise you how much PAYE and NIC to pay to H M Revenue & Customs
• We will prepare all necessary forms, for example P45s when an employee leaves
• We will prepare end of year returns, P35 and P60s/P14s and file these online with H M Revenue & Customs in advance of the statutory deadlines
• We will provide ongoing and ad-hoc support for all your wage queries
• We will advise you of changes to the National Minimum wage and ensure your business complies with the current legislation
• We will perform PAYE/NIC health check reviews prior to a control visit
• We will prepare forms P11d and calculate the relevant class 1a NIC liability
• We will advise you in relation to the payroll implications of IR35
• We will advise you as a director or directors on tax efficient remuneration planning.

In addition to time saved on processing costs and the value of receiving timely, up-to-date advice, choosing to outsource this aspect of your business usually saves you money. We will also be responsible for installing software updates, purchasing stationery and we will make sure that you pay no more PAYE/NIC tax than you have to.