Andrew Brookes – Employment Tax Solutions Expert
As an employer, your employees are an essential, if not the key, asset of your business. Therefore recruiting, retaining and incentivising them is crucial to the long-term success of your organisation.
Our employer tax solutions services cover a variety of topics, which govern the relationship between a business and its employees. We look at all aspects of this relationship with our clients.
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Employment tax solutions advice services
Tax-effective profit extraction for the business owners
We work with privately-owned businesses to ensure they can draw funds from their business, without incurring unnecessary tax charges. This may involve reconsidering the manner in which remuneration is structured, or looking at alternative benefit arrangements.
Construction industry scheme (CIS) advisory
Assisting with the increasingly complex CIS system, helps to protect clients from risk. We also help clients understand the extent of the system, how this affects them and how to minimise the impact of CIS on their business despite an increasingly aggressive approach from HMRC.
We help businesses navigate the minefield of employment status for employees, particularly in connection with IR35, Office Holders, contractors and Agency workers.
Tax efficient remuneration packages for employees
We consider the alternatives to salary that are more valuable to the employee, but do not incur additional costs for the employer. The remuneration and benefits package of all staff should be considered, to ensure it remains tax-effective and relevant to a modern, privately-owned business. A key part to this is understanding and utilising the various exemptions available to businesses.
Specialist employer tax solutions advisory
We advise on employee expenses and benefits, P11D reporting, termination issues, HMRC audits and health checks. This is achieved by understanding the business needs and objectives and working with clients to find practical solutions.
Inbound and outbound expatriate employees
Where businesses have internationally mobile workers, we help them to structure arrangements tax-efficiently. This is an extremely complex area and those unaware of the obligations and reliefs available can find themselves with costly difficulties.
Employing or sending staff to work in the UK?
This involves structuring share ownership appropriately from the outset, and keeping it under review, to ensure it remains effective through the life cycle of the business. We assist businesses in engaging key employees by providing a stake in business. It can enhance their understanding of the strategic aims of the company they work for, so enabling a greater sense of ‘team’ throughout the business.
We work with the business to ensure implementation of the most appropriate share scheme to meet the objectives. This may include:
- A simple issue or gift of shares.
- Tax-efficient share options, such as the Enterprise Management Incentive (EMI) Scheme –
these can encourage long-term engagement with the business.
- Unapproved share options – these can add flexibility.
- Nil paid shares – so the individual does not need to raise finance.
- Growth shares – to enable the individual to benefit from future growth, while protecting current value for the existing shareholders.
Useful guides to rewarding staff
Contact Menzies Employment Tax Solutions team
To speak to a partner or for more information about the tax services we offer please contact one of the Menzies LLP offices or complete our contact from below.