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.
- Wrong tax code 121 5
- Accountancy practices - are you closed over Christmas or do you let your staff take it off? 1,034 31
- Am I getting Soft?? 193 9
- How come if you claim benefits you are not entitled to you either have to pay a 50% penalty or are sent to court and either fined or sent to prison (sometimes suspended) and end up with a criminal record. 628 11
- Deferred Tax 455 8
- Mutual Trading - Exempt CT Income - Do I need clearance? 201 1
- You know its over 466 6
- Co. limited by Guarantee now closed 237 1
- Benefit in Kind 213 5
- Foreign pension tax credit relief 135 1
- Petrol expenses for self-employed 219 3
- RTI and corrections to payroll 1,262 14
- Cocaine anyone? 599 10
- Accounting for cash put into Ltd 136 2
- Dutch and Germany VAT 178 3
- can anyone recommend Turkish speaking accountants in London 300 2
- Depression - HMRC penalties case won because of this illness. 488 15
- LTD home office - would HMRC seek to disallow 1,301 8
- HMRC BACK AND FORTH FIGHT ON BTL PROPERTY ALLOWANCES 535 9
- How do you find shareholders of a Cyprus Company ? 268 13
- Hive up 506
- Accounting referance change & deficient accounts. 472
- corporate hierarchy 448
- Advice - 287
- Anyone had HMRC refusing to act on EPS database glitch? 232
- WWOOFers 227
- Art Gallery - Splitting a property between business and personal use 214
- Tax liabilities in USA for warehoused products 191
- The booking.com con 167
- UK State pension paid in NZ 161