PAYE Health Checks in Nottingham
What is Payroll?
Payroll is the compensation a business must pay to its employees for a set period or on a given date. It is usually managed by the accounting or human resources department of a company. Small-business payrolls may be handled directly by the owner or an associate.
PAYE health check
What is a PAYE Health Check?
A PAYE health check is where an employer asks a third party, often an accountancy firm providing tax advisory services, to under-take a review of an employer’s payroll and benefit procedures to ensure that they are delivering the right results in terms of compliance with HMRC’s rules on tax and NIC on employees’ pay, expenses and benefits. It is designed to minimise the risk of interest and penalties and to improve compliance.
Summary findings of a PAYE Health Check
We are able to produce a final detailed report, which would summarise the actions you need to take. The report would highlight both the risks and opportunities. The health check might mean disclosure is needed to HMRC, but as previously mentioned doing this might help to mitigate and reduce any penalties.
Benefits of a PAYE Health Check
Why should you consider a PAYE Health Check?
Peace of Mind
it will provide peace of mind for an organisation if it is fully compliant and, if it is not, it is better to know so it can take steps to remedy any problems.
if an organisation knows things are wrong and does nothing about it, and HMRC discovers the failure, the organisation will be deemed to be careless, increasing the potential level of penalty. It is better to take the initiative.
Reduce Disruption Cost
a voluntary disclosure can be made to HMRC of any failures discovered during the review. This may prevent HMRC from carrying out an Employer Compliance Review and the disruption and cost this might cause for the business.
Protect Against Employee Fraud
to protect an organisation against employee fraud. A detailed review could identify areas of risk.
Employer Compliance Reviews
HMRC assesses the level of risk at an organisation when deciding whether or not to carry out an Employer Compliance Review.
Keep Up To Date With Legislative Chnages
it is important to keep up to date with legislative changes to ensure full compliance.
How can Seagrave French help you?
How can Seagrave French help you?
Our PAYE health check service is designed to find any PAYE issues before the Taxman does!
Why not call us in prior to any visit?
The health check can…
- Review and sample check your payroll records for errors
- Sample test the most common errors that the PAYE inspectors look for
- Statistically analyse your completed PAYE returns
- Sample check the completion of PAYE returns
- Compare your PAYE returns against your annual accounts
- Sample check leavers and starters to make sure they are correctly dealt with
- Review statutory maternity pay, statutory sick pay, student loan deductions and working tax credits
- Identify any workers where status issues may be a concern
- Check completion of end of year returns
- Review benefit in kind and expenses disclosures and calculations
- Check expenses dispensations
- Identify any PAYE planning opportunities
We can also provide a similar service in respect of a CIS health check for the construction industry.
Whatever your ambitions, we will commit to them wholeheartedly and deliver the premium service you deserve. Get in touch today to book a chat with the experts at Seagrave French.