People are at the core of most businesses and employers need to work to keep them motivated and engaged. In addition, employers must navigate high levels of tax compliance and ever-increasing new legislation, our colleagues at K3 Tax Advisory work with employers to ease this burden
Share incentive schemes, align employee and shareholder interests and can be a powerful tool for recruiting, rewarding and retaining employees, giving them the opportunity to make substantial gains, often in a highly tax efficient manner. The K3 Tax Advisory team can design tax efficient schemes to meet your commercial objectives and provide a complete service including valuation and scheme documents. They advise on EMI, CSOP, nil paid and growth share schemes.
Employment status, off payroll working (IR35) and intermediaries' legislation
Employment status legislation is highly complex, our specialist team can help all parties understand their obligations and support in structuring contractor engagements to reduce their compliance burden, while ensuring the engagement still achieves the desired commercial objectives. Where HMRC challenge the employment status position, the K3 Tax Advisory team can support and manage HMRC’s enquiries.
Where there is an international element to an employee’s engagement, determining the correct employment tax and national insurance requirements can be complex. The K3 Tax Advisory team provides clients with a complete package of support so they can be sure they have considered and addressed all the issues that may impact both them and their internationally mobile employees.
National minimum wage (NMW)
HMRC takes a strict line on NMW compliance, penalties are particularly punitive with 200% financial penalties for non-compliance, as well as employers being ‘named and shamed’ by HMRC, which regularly makes local and national headlines. K3 Tax Advisory’s specialists support clients through HMRC minimum wage compliance checks or can undertake an internal audit of an employer’s current procedures.
Employee benefits in kind
HMRC scrutinises benefit-in-kind tax compliance heavily. The K3 Tax Advisory team supports clients undergoing HMRC compliance checks and provides pro-active compliance checks.
The construction industry scheme (CIS)
CIS is complex and confusing for contractors and sub-contractors alike. The expectation of compliance from HMRC is very high and penalties for failures are harsh and difficult to mitigate. K3 Tax Advisory’s experts can assist with practical advice and support.