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.
- Expense receipt from previous quarter not included in VAT return 240 4
- Halloween - do you celebrate it? 663 23
- Know it alls (who don't) 1,256 23
- Have we escaped Gift with Reservation of Benfit & Pre-owned asset charges? - Gift after benefit 553 1
- Capital allowances anti-avoidance 324 10
- Audit procedures on a dormant company 200 2
- Transition to FRS102 - goodwill 509 14
- Employed clients and expenses 839 16
- Goods Purchased for Rental 619 31
- More HMRC on gov.uk 248 4
- UK Tax Treatment of Finance Lease Payments 147 3
- Cash withdrawn and not accounted for 284 3
- Auto Enrolment set up 385 3
- Loan to Partnership is s455 tax relevant? 535 18
- Recommendations for payroll/AE software? 442 9
- Interflora florist 112 1
- Accounting for VAT not yet paid in year end 304 6
- Directors loan accounts 436 10
- Income Self employed 559 8
- Contingent Liability - Copyright Dispute - Disclosure ? 261 7
- NOVA 491
- Bonus Bonds 376
- Insolvency and whistle blowing 358
- Transfer of funds into recently set up company 276
- TPR imposes first penalty notice fines 241
- Friendly Pensions 176
- Box 8 VAT Return - deposit payment 160
- Husband proposes to buy the car as Director unable to acess finance 148
- Finance Lease 141
- Company Car Lease 138