Employment Tax Compliance
Tax on Salary and Wages
To ensure that you are paying the right amount of tax, call our tax accountants to discuss your off-payroll working and share plan arrangements.
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Employment Tax Services for Employees
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It is a vital element of our civilization to pay employment taxes, and a portion of our income is withheld and used to pay Her Majesty’s Revenue and Customs – HMRC. Taxes taken out of your wages go towards various necessary endeavours such as National Insurance contributions, distributing child benefits, maintaining the education system, the NHS, infrastructure and several other forms of state support. Typically, employers operate PAYE, Pay As You Earn, HMRC’s system of collecting income taxes and National Insurance directly from their payroll. Income taxes are the government’s largest source of collectable revenues. The amount of income tax you pay each year depends on two things; how much income you have earned above your Personal Allowance and how much falls within each of the allocated tax bands. If you are an employee, you can claim tax relief on the expenses that you have paid for out of your own pocket. We can give important information and tax advice regarding claiming back the tax you are due. Talk to us today about Employment tax and tax reliefs on expenses you may claim.
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As an employee, you pay income tax and employee national insurance contribution. Your employer will pay employers national contribution on your behalf.
Tax deduction from your employment wages is dependent on certain factors and HMRC will adjust your tax code accordingly. If you are paying more tax than normal, you should contact HMRC about your tax calculation and find out what information they have, which may need to be updated.
You can only get national insurance refunded if there is an over payment. Other than that National Insurance collected is for benefits provided to you such as health and security. You can get National Insurance refunded if you are over pensionable age.
If you have multiple employments or your salary is more than £100,000 or you have any other income you must file tax return and pay any outstanding tax.
In normal circumstances, HMRC will open an inquiry about unpaid tax. If your employer is bankrupt, HMRC may come back to you to recover any outstanding taxes.
It is illegal to pay below minimum wage. If your employer is not paying you minimum wage, you can ask your employer to pay you the minimum wage for the past employment. If you are unsuccessful in recovering your wages, you must call DWP and report your employer.