Over the past year or so, many business owners and their HR payroll personnel may have heard or read about the increasing use of bailiffs and debt collectors by HMRC to secure repayments in cash or kind from late paying companies.
More than 7,000 businesses were the recipients of such visits during the tax year 2010-11. This represents a substantial leap in the utilisation of these tactics by HMRC from an estimated 4,900 in the 2009-10 financial year and 1,675 in 2008-9. Many businesses feel that there are dual reasons for this perceived heavy handedness. The first is that the enduring economic fragility is causing many businesses to genuinely struggle to pay their tax liabilities correctly and on time. The second is that there is an overriding sense that HMRC is under enormous pressure to boost its takings, consequently resulting in such drastic measures.
Tax has always been a taxing issue to countless businesses that operate in a diverse range of sectors and are of dramatically different sizes. Many, however, find the outsourced services of professional payroll companies invaluable, not only on a weekly and monthly basis with regards to actual payroll administration, but also by way of the light they shed on tax liabilities. Expert payroll services ensure that all staff are correctly remunerated on time. Besides providing practical payroll solutions, they furthermore have the experience and the knowledge required to help businesses to ensure that HMRC is also correctly paid on time.
At Moorepay, we offer cutting edge yet affordable payroll services to all kinds of businesses. Our expert and user friendly payroll solutions are available on a partially or fully managed basis. In either case, business owners are continuously able to access real time financial data relating to their tax liabilities, assuring that they remain ahead of the game and are empowered to avoid unwelcome bailiff and debt collector visits due to late payment.