VAT & Payroll
Although VAT (value added tax) is a personal tax in that VAT is charged on most of the goods and services that we buy as consumers, it is commonly referred to as a business tax as it is only usually businesses that are required to register for VAT.
Some of our smaller clients prepare their own VAT returns, others need more specialised services. However, VAT legislation is complex, so where necessary we work with an associate firm of VAT specialists in identifying VAT planning opportunities for our clients and ensuring that all VAT compliance matters are dealt with.
For advice on individual VAT cases, including voluntary registration, please contact the Business Services Division.
We have a specific payroll division that administers clients' payrolls and advises client employers on a monthly basis as to the amounts to be forwarded to the Collector of Taxes in respect of PAYE/NIC deductions.
Our payroll division also ensures that clients comply with the requirement to prepare and submit annual returns (forms P35, P60 and P14) as well as the Return of Expenses and Benefits (form P11D). There are strict deadlines for the submission of these returns and even stricter penalties for non-compliance.