Many local businesses around the Wirral and Liverpool have found PAYE more frustrating than ever. After calling the HMRC’s PAYE department many businesses found themselves disappointingly on hold for hours only to be informed that they may have to wait up to 10 months to get their PAYE refund processed.
It seems the government completely over-looked over-payments when creating the RTIs. The words that come to many minds may be, ‘great at taking money, poor at giving it back.’ When cash flow is so important how can some businesses be expected to wait 10 months to receive back their hard earned cash?
The blockers have been reported as a combination of over sensitivity to fraudulent claims and internal data integrity issues. As vague as that sounds the obstacles it has created are very obvious. Unless there is a review by an external agency, which seems very unlikely, these issues are going to remain evident year after year.
So how can a business combat these potential problems?
The answer is reducing human errors. A study by Bloomberg showed that human errors are the number one issue when it comes to accounting. The biggest of which is made during the data entry stage. Another form of error is using incorrect calculations. Neglecting to enter the right details or omitting items that could be included as taxable benefits is also another very human error.
When it comes to payroll it is very important to have an accountancy firm that cares. If you would like any information on speeding up your PAYE refund please call one of our friendly accountants for a free no obligation chat.
In our strive to help as many local businesses as we can we have dedicated ourselves and our staff to providing 8 ways that we can provide free advice to Liverpool and Wirral based companies. In our quest to add value to our customers we believe that below are 8 of the most worrying and important factors that we day-to-day proactively help our clients with:
- Profits: As a business profit isn’t just a word it’s a must. Whereas most accountant’s favourite word will be ‘CUTS’ we have dedicated ourselves to the word ‘GROW’. How can we help you grow your profit not cut your costs!
- Cash flow: Plan, manage, raise and collect. We can help with every stage of cash flow. As the life blood of a company is there anything more important to be well informed about?
- Personal income: We help our clients to focus on increasing what they take home after tax.
- Other tax bills: No company wants to pay taxes and we will help you find ways to reduce your tax bill. If big companies like Starbucks can get away with not paying a penny why should you pay a penny more than you have to?
- Business value: Most accountant companies only care about the books we care about how and where you want to grow your business and can provide advice to suit.
- Personal wealth: Retire when you want and in the style you want. Financial planning is essential to personal wealth. Why not start today!
- Work-life balance: Lots of little things can add up to one very big stressful thing. We consider good accounting to be lots of little things done well. Bookkeeping, pay roll and financial planning can easily become a business owner’s worst nightmare. Having a good accountant means less stress and more time with your family. Let us help.
- Improving the financial situation of key family members: Often we work for our families, once all the hard work is done don’t let a lack of financial knowledge erode the help you provide to your family be it education funding or transferring wealth. We have years of experience that could save your family a lot of time and money.
Our friendly staff would love to help you with any of our top 8 factors. So call today for a free, friendly no obligation chat and find out how we can help you.