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Alison Clynes
Written by Alison Clynes
Wednesday, 04 November 2009 10:00

From May 2010 PAYE tax paid will be liable to penalties. In addition, any errors made which result in an underpayment of tax and national insurance will also be liable to penalties. This continues H M Revenue and Customs tightening up of legislation and practice to ensure that not only the maximum amounts of tax are collected, but the interest and penalties can be charged, which when penalties can be equal to 100 per cent of the disputed tax can easily force a business into bankruptcy.

This might seem like a rather over-dramatic way of putting things but if you check the records of those made bankrupt, you will find it is not uncommon for H M Revenue and Customs to be amongst the main creditors.

There have also been increases in the tax department's information powers. This means that they can engage in endless questioning of a taxpayer's records. In fact, the only way to ensure you do not fall foul of the Revenue is to check that your professional advisers know how to deal with requests. It is not always necessary to comply with requests for information although some accountants seem happy to run up fees as they roll over and open the door to further time-consuming queries.

Don't take a chance, get professionals to operate your payroll services and minimise any scope for errors. We at Dataplan Payroll are recognised by the Institute of Payroll Professionals as a leading payroll bureau with good reason, and we can help with payroll outsourcing.

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