Helping small businesses deal with toughening tax demands
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As small businesses continue to soldier on for survival amidst a continuingly embattled economic climate, many are of the opinion that the Government seems quick to make the right noises, yet not so keen to follow through on its pledges of small business support. Such is the overriding feeling with regards to the increased amounts of spot checks on small business proposed in 2012 by HMRC.
These spot checks involve the auditing of income and expenditure dating back over a number of years, coupled with ?3,000 fines issued to small businesses that have not retained or cannot produce satisfactory paperwork. Whilst the vast majority of HR payroll professionals representing small businesses take the appropriate recording of such information extremely seriously, many nonetheless feel that additional red tape and financial threats present hindrances rather than help during already difficult times.
It is nothing new that small businesses have long since felt baffled and blighted by tax in terms of understanding how it works, how it specifically relates to them, and how to manage its administration in real terms. The issue of tax can prove to be particularly frustrating when small businesses do not have dedicated HR payroll personnel who are qualified to ensure that tax obligations are complied with in a correct and timely manner. When struggling to meet the demands of an increasingly tough Taxman, many are finding just the helping hand they need in external payroll companies that deal with small business payrolls, tax deductions and year end accounts on their behalves.
We at Moorepay offer payroll solutions that are tailor made to the SME market. We not only ensure that staff are remunerated correctly, on time and with relevant tax and National Insurance liabilities automatically deducted. We also remove much of the year end burden from under resourced small businesses and provide expert advice about HMRC expectations with regards to company records. |
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Author Resource:-
The Article is written by www.moorepay.co.uk/fully_managed_payroll providing Managed Payroll Solutions and Fully Managed Payroll. Visit http://www.moorepay.co.uk/fully_managed_payroll for more information on www.moorepay.co.uk/fully_managed_payroll Products and Services___________________________Copyright information This article is free for reproduction but must be reproduced in its entirety, including live links and this copyright statement must be included. Visit www.moorepay.co.uk/fully_managed_payroll for more services!
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By :
Lee Malcolm
Submitted
2012-02-03 18:48:31 |
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