Some 19,307 students are expected to look for temporary work in Wales this summer and with the recent introduction of Real Time Information (RTI) adding more administrative pressure to employers, a local tax specialist is warning local businesses not to skimp on the paperwork.
Roger Bowen who runs TaxAssist Accountants in Llanelli said:
“Small firms across Llanelli will be taking on students and other temporary staff throughout this summer and with the recent introduction of RTI, it could be tempting to pay workers cash in hand to cut costs and avoid paperwork. But employers considering this should think again.
RTI was introduced in April this year, meaning employers have to report their employees’ gross pay, tax, National Insurance contributions and other deductions when or before wages are paid, so in most cases weekly or monthly. Prior to this most employers provided the information annually. Businesses employing up to 50 staff have certain concessions with regards to the level of reporting until 5 October.
TaxAssist Accountants Llanelli is a local business, operating across Carmarthen, Llanelli and Swansea, providing tax and accountancy advice and services purely to small businesses.
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