RTI and directors - can anyone spot a flaw in this plan?
I am a sole practitioner and within my client base there are 35 payrolls where only directors are on the payroll. Currently I send out a monthly payslip, which has proved useful in the past as it means directors know exactly where they stand. Nonetheless in the past 3 months 3 clients have informed me of some PAYE work they've had outside their limited companies. In 2012-13, no problem - just re-jig the salaries. But this would clearly not work in 2013-14 if submissions had already been made.
I want to keep my fees unchanged but feel going to just one payroll run in March 2014 is a bridge too far, also would cause problems for those clients who sail close to the wind on their loan accounts. It seems that, as at present with "no PAYE due" submissions, we'll need to do something every quarter to keep the PAYE record alive.
So my plan is to run a payroll process - and send out a payslip - in week 11,24,37 and 50. In other words, once a quarter halfway through the last month in the quarter. As with everything I do, all clients will be informed about this in advance and offered the option to choose a different approach.
Please see if you can spot problems with this, all criticisms welcome.
- Has HMRC got powers to do this? 40 1
- New Client in dispute with old accountant 475 10
- Declined for business bank account 257 6
- Any Scottish members out there? 7,636 284
- Help with Mortgage Application? 486 7
- planning to be self employed bookkeeper what do i need to do before i start? 190 3
- Disclosure of pending convertible loan notes? 213 10
- Standard 'email' template system 883 14
- Shutting down a company with creditors 1,030 14
- How to complete annual VAT return online? 222 4
- Irish VAT Deferred payment 97 1
- Circular shareholding 239 6
- Starting as sole trader from abroad 195 6
- business card address 315 8
- VAT relief eligibilty for charity buying minibus 214 2
- Loan to a related company 113 1
- Artificially reducing profits by bonus accrual 664 26
- Repairs after a rental business ends 339 10
- Can anyone recommend a good document scanner? 278 8
- property rental income split 141 1
- Raiders of the Lost Tax File 1,116
- Chartered Accountant in County Down N.Ireland 368
- IPP (International Pension Plan) income 300
- National Insurance 269
- valuation of intangible asset FRS10 and FRS20 240
- Payments on account coded out?? 230
- Cass 5 FCA Client Money Software recomendation 224
- Non Resident 188
- Unnecessary S9A Enquiries 185
- Franchise income and costs 180