Healthchecks

In business often the need to focus efforts on generating sales can put ensuring tax compliance obligations are met way down the list of priorities.

Health Checks are a service we offer for:

• PAYE. This mainly covers payroll procedures and benefit in kind issues.

• VAT.

• Construction Industry Scheme (CIS) + CITB requirements

HMRC often visit businesses every 2 to 3 years to perform a ‘compliance visit’ on the above to ensure that they are being operated correctly. Where mistakes are found HMRC can impose demands for extra tax and/or national insurance plus interest and a penalty.
When performing a Health check we will review your situation, discuss how you operate and notify you of anything we may find. We will discuss with you any improvements you might be able to make and the easiest way in which these can be done.

Benefits of giving your business a Health check are:

Peace of mind. You can take comfort in knowing whether you are meeting your obligations, and next time HMRC perform a compliance visit you will know the risk to your business.

Damage limitation. If a mistake has been made recently then often an amended return may be able to be submitted, therefore avoiding penalties. If this was left unnoticed and HMRC were to subsequently pick up a mistake 2 years later during a compliance review then they would impose interest for that period plus a penalty (which can be up to 100% - in the worst cases).

Regulation for the future. You will be safe in the knowledge that we have advised you of the easiest methods by which you can meet your obligations. This will help you to reduce the risk of making any mistakes in the future.