Employment Tax
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HMRC Enquiry Visits & Reviews
Every year HMRC visits a select number of businesses for a Employer Compliance review.
What are HMRC looking for?
- PAYE compliance
- National Insurance payments
- P11D benefits
While a HMRC inspection can be a daunting thought, working with the Hawsons team to carry out a detailed review of your business and records, we can ensure a timely and efficient inspection process liaising with HMRC throughout.
Share Incentives
The use of employee share schemes and share based payments can be a particularly cost effective and tax efficient form of remuneration. They can also help to foster a strong working relationship, in regard to retaining and incentivising staff.
We deal with many clients on share incentive schemes and can advise on the suitability of employee share incentives and the implementation of any arrangements. We have worked with businesses of all types and sizes, ranging from start-up businesses to large company groups, on a number of employee incentive solutions.
Some of the share schemes we have helped to implement include:
- Enterprise Management Incentives (EMIs)
- Company Share Option Plan
- Share Incentive Plan
- Save As You Earn Share Option Scheme
- Employment Related Securities Schemes
While share schemes provide great incentives for staff there are other alternatives, such as Employee Ownership Trusts which can also provide great incentives. It is imperative that you consider all options before entering into a scheme to ensure not only tax efficiency but also suitability to your company’s goals and objectives.
For more information on each of these incentives, please contact our tax team.
Employment Status
In many cases, determining the correct employment status of a person who works for your business (i.e. is it employment or self-employment) is not a straightforward process and there are many factors that need to be considered.
It is essential that the employment status of a member of staff is correctly determined from the start of work, to ensure that PAYE and National Insurance contributions are deducted as they should be.
Although declaring a self-employed status can be beneficial for both the worker and the employer, HMRC can challenge self-employed status. If HMRC find that the ‘self-employed’ worker should be under an ’employment’ status they will usually seek the retrospective PAYE tax and National Insurance contributions due.
At Hawsons we can look at the engagement of each worker and, accordingly, help you to mitigate the risk of a challenge by HMRC.
We can also help you if you have been challenged by HMRC in regard to employee engagement and potentially reducing the amount you would have to pay back as well as fines that would have been imposed.
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