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October Questions and Answers
Newsletter issue – October 2023
Q: We have started reimbursing London’s extended Ultra Low Emission Zone charges when an employee must pay them whilst on business for us. Can we reimburse them free of tax?
A: Yes, the reimbursement can be made free of tax (and National Insurance). Think that this is a cost the employee has had to incur as a result of doing their job. So, really, it’s treated the same way as any other motoring cost you may reimburse such as the cost of parking or a toll road. You are very much advised to make sure all expenses reimbursed are receipted just in case HMRC checks in future!
Q: Our accountant has asked we complete a paper 64-8 authorising them to act as their agent for the Construction Industry Scheme. Can they include a scanned picture of my signature on the form or do I have to physically sign it?
A: If it’s on paper, you need to sign the form. HMRC call this a ‘wet’ signature as opposed to a digital one that could be used if you completed the form online. Maybe ask if they have an online service account so you can complete the 64-8 online and use your digital signature. In this digital world, it is, perhaps, surprising that there are only 3 online forms where you can use the digital signature – the 64-8, the P87 (for expenses) and the Marriage Allowance claim form.
Q: We are considering outsourcing our accounts and payroll function, even though they have worked OK in-house ever since we set the business up. We are a small employer with about 30 staff. Can you give me a few key pointers so I can prepare a business case for this?
A: There are many reasons why an employer might want to outsource some or all their services and different employers will benefit in different ways. However, there are some common advantages that can be a benefit to all businesses and here are some points you might want to expand on:
- Outsourcing allows the employer to work ON their business rather than IN it
- When the employer works ON their business and outsources some work IN the business, you get support in a variety of ways - business planning, advice on restructuring, training, business filings like RTI etc
- An agent / accountant will have access to a range of up-to-date tools, resources, technology and software that you won't. These are all essential for compliance in a world that is increasingly complicated
- Outsourcing doesn't mean you are divorcing yourselves of responsibility altogether but outsourcing mean you will get provided with a broader range of tools and expertise than you would have in-house, especially true of a smaller company
- An agent / accountant will have access to the most up-to-date legislation that affects processing (and will avoid non-compliance and penalties)
What our clients say about us...
"Paul has provided accountancy services to my company for 2 years now. I can recommend Paul very highly; his skills as an accountant are highly detailed and professional and he is always available to provide advice. One aspect of the way Paul works that I greatly appreciate is a preference to meet face to face when there is a detailed conversation to be had. I personally find this more productive and is a benefit of working with a small accountancy firm that you wouldn't get with the large faceless providers."
ALISTAIR FAIRWEATHER - PROGRAMME & PROJECT MANAGER, DELIVERING/RESCUING I.T. 7 BUSINESS CHANGE WITH BUDGETS UPTO £50M INC SUPPIER MANAGEMENT
"I couldn't ask for more from Paul as an Accountant. Paul has been accountant to Work Relief Charity Recruitment for just over a year now and is proving an invaluable asset. Accurate, knowledgeable, flexible with an emphasis on service delivery, I would recommend Paul's services to any organisation looking for an accounts professional."
Neil Price - Managing Director at Work Relief Charity Recruitment
"Paul was a referral from a family member when I started my business 2 years ago. As this was the first time I had ever run my own company I was totally clueless over the financial side of matters and was worried that I may have made mistakes in any of my accounting. I needn't have worried as after enaging Paul for a set monthly fee he was always there on the end of the phone for all sorts of questions I had and no matter how trivial they were Paul gave me all the information I required and more and did an excellent and painless job at the end of my first year! Couldn't ask for any better to be honest. Just two words - hire him!!!"
Lee Westrap MBCS - Director - Bulldog IT Services
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