Payroll and PAYE Returns
Running your own business often becomes far more complicated once you take on your first employee and become responsible for payroll and PAYE compliance.
Let Butterworths Accountants take the strain off you so you can focus on running and growing your business. Payroll is complex, must be run on time and, as the employer, you are legally responsible for any mistakes.
We provide a fully managed, tailor-made payroll service, including employee payslips, monthly summaries, departmental reports, handling starters and leavers, staff cost analysis, and Real Time Information (RTI) submissions toHMRC. We also assist with automated employee payments and complete CIS returns where required.
You will never have to worry about calculating statutory sick pay, statutory maternity pay or student loan deductions again.
At year end, we prepare employee P60s, P11D and P9D benefit and expenses returns, along with related tax planning advice.
PAYE Healthcheck
Worried about a PAYE inspection? Butterworths Accountants’ PAYE Healthcheck service is designed to identify PAYE issues before HMRC does.
We can review your payroll records, sample-check common PAYE errors, analyse your PAYE returns, and compare them against your annual accounts. We also check starters and leavers, statutory maternity and sick pay, student loan deductions, benefits in kind, expenses disclosures and end-of-year returns.
Our review can highlight worker status concerns, PAYE planning opportunities and any weaknesses that may attract HMRC attention. We can also provide a similar CIS Healthcheck service for businesses in the construction industry.
Calling us in before a PAYE visit can significantly reduce risk, stress and potential liabilities.
Employment status
Getting employment status wrong is one of the most expensive tax mistakes a business can make. Whether someone is genuinely self-employed or an employee is not a matter of choice and is often far more complex than it first appears.
The decision depends on a range of legal and practical factors such as control, substitution, mutuality of obligations, financial risk, provision of equipment, basis of payment, intention of the parties and length of engagement. These are matters of employment law supported by extensive case law, and HMRC does not have the final say.
If status is decided incorrectly, the costs can be enormous. In addition to back taxes, interest and penalties, employee status can give rise to employment rights such as holiday pay, maternity pay and unfair dismissal claims. The liability usually rests with the employer, and recovery from the worker is often impossible.
Butterworths Accountants can review your existing arrangements and give you a professional opinion on whether they would stand up to challenge from HMRC. We also advise on contracts for services and practical steps you can take to maximise your chances of achieving the correct employment status.
Contractors and IR35
Many contractors are concerned about IR35, yet HMRC loses a high proportion of IR35disputes. Whether IR35 applies depends on a range of legal and practical factors, and HMRC does not have the final say. Each case turns on its own facts and relevant case law.
Butterworths Accountants offer a free initial consultation to discuss the tax advantages of contracting and the different possible scenarios. We provide an all-inclusive service for contractors, covering company formation, annual accounts, company and personal tax returns, bookkeeping, VAT and PAYE returns, company secretarial services, tax computations and full IR35 support.
We review contracts for IR35 status, draft anti-IR35 contracts, and deal with IR35disputes where they arise. We can also review your existing arrangements and give you a professional opinion on whether they would stand up to challenge from HMRC, and advise on how to maximise your chances of remaining outside IR35.
GettingIR35 wrong can be extremely costly, with significant liabilities for income tax, employees’ and employers’ National Insurance, plus interest and penalties. Our role is to help protect you from these risks.
Employee Remuneration Planning
Good remuneration packages are essential for attracting and retaining high-quality staff. With the right planning, a significant proportion of employee remuneration can be structured in a tax-efficient way.
Butterworths Accountants provide comprehensive advice on employment tax matters, including tax-efficient remuneration strategies, benefits planning, company car and van strategies, expenses dispensations, termination and inducement payments, and retirement planning. Our aim is to help you reward your staff effectively while keeping employment taxes to a minimum.
Personal tax planning
[insert firm name] can help with the complex issue of personal tax, we know it can be difficult to understand, which is why we help every step of the way. We take away the time and stress by creating a tax planning strategy that suits your tax affairs, helping ensure you pay the least amount of tax. Our team will advise when payments are due along with what forms need to be filed and returned to keep you compliant.
Capital gains tax
You may be looking at investments, a second property or another asset and our team can make sure you maximise your exemptions while simplifying the difficult area of capital gains tax.
Self assesment
Our tax services make sure that your tax liability is calculated taking into account all allowed exemptions and deductions. We simplify the process by using accountancy software to accurately complete tax returns and calculate any tax liability that may occur, along with any payments that need to be made.
Corporation tax
Corporation tax reliefs and rates change annually, so we ensure that we can provide all the right guidance and advice when looking at exemptions, allowances and deductions that may be available. We will thoroughly review and prepare corporation tax returns in great detail in order to ensure you are compliant and that you don’t incur any penalties.
Our Core Services
