TWO-THIRDS OF small businesses are hesitant to hire new employees due to the burden of PAYE, according to a poll from a software provider.
The Intuit survey showed that 69% of small business owners are put off from hiring. Almost half of employers said they were unaware of the deadline for filing their PAYE end of year returns (P14/P35s), which was 19 May. A quarter of respondents (28%) said that they did not expect to complete their returns before the deadline.
Mark Linton, who set up The Business Growth Show events company, said: “One of the key challenges for any small business right now employing staff is not necessarily actually the process of getting a staff member on, it’s once you’ve got them on: how do you pay them, are you doing it right, is legislation getting in your way? I really do think that PAYE for any small business is a logistical nightmare.”
HM Revenue & Customs this year removed a seven-day period of grace for missing the deadline because it had previously used the postal service.
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The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Government's estimate of a £400m admin saving from Making Tax Digital is way off - and is instead a huge cost burden, warns Lamont Pridmore chief executive Graham Lamont
HMRC is continuing to ramp up the number of raids on premises it carries out as part of criminal investigations, searching 761 properties in the last year