Understanding HMRC compliance is crucial for any business, as mistakes can lead to hefty fines. As a trusted payroll provider, Cactus are here to help you understand the complexities of HMRC compliance.
HMRC carry out compliance checks to:
- Ensure you’re paying the right amount of tax at the right time.
- Make sure you’re getting the right allowances and tax relief
- Discourage tax evasion
- Make sure the tax system is operating fairly
Multiple things can prompt HMRC to open a compliance check, including:
- entering figures on a return that appear to be wrong
- making a large claim for a VAT refund when turnover is low
- declaring a small amount of tax when turnover is high
These are mistakes that are easy to make but could have big repercussions. As a fully HMRC-compliant payroll provider, we go beyond basic payroll processing. This means payroll mistakes do not happen. Our proficiency encompasses intricate tasks like handling P11Ds, managing Attachment of Earnings, and ensuring that your payroll adheres to the ever-evolving UK regulations. If you would like Payroll support, please contact Cactus Payroll today.