Payroll and VAT. Could you be under declaring your VAT?

Nowadays, with the complexity of pension auto-enrolment, RTI and other compliance requirements, it is quite common for one company within a group to act as a payroll bureau and to run the payroll on behalf of a number of related companies. However, do be careful as you might be under declaring VAT. 

Whilst the employees’ salary costs, such as wages, PAYE, pension etc., do not attract VAT themselves, VAT could be due when they are recharged to related companies. So, what can you do to ensure that your employment contracts are set up correctly to avoid incurring VAT? Read more

Structures and Buildings Allowance

The aim of this form of tax relief is to encourage investment in the building of new structures and the renovation of existing structures, for the purpose of conducting a trade or for non-residential use. The tax relief can be claimed where construction begins on or after 29 October 2018, by individuals, partnerships & limited companies. The relief is not available for buildings used for residential purposes only. Read more

Off-Payroll Working and Personal Services Companies

Don't forget that from 6th April 2020, private sector large and medium sized companies will now be responsible for assessing the employment status of workers and, if appropriate, for deducting and paying the relevant tax and National Insurance Contributions to HMRC.

Small companies should not be affected by the change in legislation. In this case, personal services company will continue to be responsible for assessing their employment status. Read more

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Susan Clark retires

In September 2005, Susan joined Donald Reid & Co, as the firm was then known, as a Tax Manager.

Susan was Daniel Reid’s first hire and for many years has provided the technical glue that has underpinned DRG. From accounts, payroll, and VAT, Susan's wide ranging knowledge of all accounting related matters made her the go-to-person for many queries.

Over the past 15 years, Susan has been a loyal, hard-working member of the team totally dedicated to getting clients tax affairs absolutely right.  She will be greatly missed by clients and staff alike – the DRG team would like to say a huge thank you and wish Susan a very Happy Retirement.