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MSI's UK accounting firm Armstrong Watson has announced the promotion of Nick Davies to Director of Reward and Employment Tax across the Group.
Nick, previously of Ernst & Young and Grant Thornton, began working for the firm in 2006 as a Reward and Employment Tax Consultant and will step up to the new role with immediate effect. Having built an impressive portfolio of global and national clients since his arrival - such as Rensburg Sheppard Plc, Carlson Wagonlit and Seven Seas - Nick will continue to develop specialised services such as Employment Tax Compliance Reviews and the Employee Car Ownership Scheme as well as expanding the team across the 15 offices of the Group.
Nick said: “The overall objective of my promotion is to ensure Armstrong Watson becomes the biggest and best employer solutions practice outside of London – there are exciting times ahead and we’re already well on our way to achieving this goal.”
Aidan Taylor, managing partner, added: “This promotion is thoroughly deserved. Nick has made a substantial contribution to the development of the Reward and Employment Tax team since joining us, and has continually provided a first class service to existing and new clients. “
Nick continued: “HMRC has recently published its 2007 Autumn Performance Review concerning Employer Compliance Reviews and it’s worth noting that in 2005/6 the yield from this source was £429.9 million yet in 2006/07 this increased by almost 31 per cent to £562.6 million. The story for 2007/08 is that both numbers of HMRC visits and yields from those visits are increasing and we are certainly seeing this in practice. Therefore Employment Tax Compliance should be of major concern to companies right now and with the expansion of the Reward and Employment Tax service offering at Armstrong Watson we are certainly best placed to advise businesses on this.
“The ever complex legislation relating to Employment Tax makes it harder than ever for employers to be fully compliant, yet the penalties for non compliance can be substantial. In view of this companies should undertake a review to ensure the business is fully compliant. At best this will provide a clean bill of health, allowing companies to face the inevitable HMRC visit with confidence. However if errors are discovered you will be able to rectify these, reducing the likelihood of a large settlement when the inspector comes calling.”
For more information
Please contact Danielle Bishop at Armstrong Watson
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