A First Tier Tax Tribunal this week has ruled that an employer that incorrectly deducted employee taxes is liable for the tax underpaid, and the initial penalty against the employee for submitting a late tax return has been revoked!
This serves as a reminder for businesses in guildford to ensure the payroll is done correctly. If there is an uncertainty in applying rules to employee deductions, we would recommend using a professional to undertake it for you. In this way, even if something goes wrong, you can make a claim against that service provider, if you do it yourself, you cannot make such a claim and will therefore bear the brunt of any further taxes due, even if the taxes are that of the employee.
As chartered accountants in Guildford, we provide payroll services to a high standard. Our payroll is overseen by a chartered tax adviser, so you can have confidence that payroll deductions are being done correctly.