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IWA Services Limited
Institute of Certified Practising Accountants
Administration -:- Book-Keeping -:- Taxation -:- Annual Accounts -:- Compliance
IWA Services Ltd
162 Dock Street
Tel: 01253 976168
With the implementation of Real Time Information (RTI) in the world of PAYE, employers are now under a great deal more pressure to get their employees earnings reported accurately and on ‘schedule’ - reported to HMRC every time the employee’s are paid; when someone is taken on or an employee leaves; when company cars are allocated or withdrawn - even to tell HMRC that no one is getting paid this week or month! Regardless of when your employees are paid (monthly, weekly, or even daily!) Also there is no longer any such thing as a ‘casual wages’!
These items have to be reported in ‘real time’ - no allowance for the book keeper being on holiday! Or ‘off sick’. Pressure? You may need our payroll service !
If you are a contractor in the construction industry and employ sub-contracted labour you have a duty to deduct tax and report those deductions to HMR&C, even if you do not have any direct employees. This is commonly known as the Construction Industry Scheme or CIS. You will also need to provide sub-contractors with payment and deduction statements. Once again, HMR&C expect you to keep accurate and adequate records of all payments and deductions made, and to file this information once each tax month. We can provide this service as a ‘stand alone’ service or as part of our payroll service.