Debbie Tam, CPP’s Post

Payroll taxes are a critical aspect of your business, and accuracy is non-negotiable!

Accurate and compliant tax withholding for a remote and/or hybrid workforce is easier said than done. Tax nexus considerations, reciprocity agreements and the mobility of employees today makes this a much harder task for employers to manage. Rudy M. has this essential overview, covering the different challenges and ways to overcome them. #taxwithholding #tax #compliance #HR #remotework #hybridwork https://lnkd.in/g4uV35he

An essential overview, covering the different tax withholding challenges and ways to overcome them.

The recent shifts towards remote work have introduced significant challenges for businesses, especially regarding corporate tax and legal implications. Allowing staff to work remotely outside the UK can expose businesses to complex tax and legal liabilities. However, there are strategic approaches, such as Enterprise Management Incentive (EMI) options, that can help businesses manage these challenges while offering valuable benefits to employees. https://bit.ly/4aRnvTp #ReedAccountancy #Accountancy #Finance #RemoteWork #Tax

The recent shifts towards remote work have introduced significant challenges for businesses, especially regarding corporate tax and legal implications. Allowing staff to work remotely outside the UK can expose businesses to complex tax and legal liabilities. However, there are strategic approaches, such as Enterprise Management Incentive (EMI) options, that can help businesses manage these challenges while offering valuable benefits to employees. https://bit.ly/4aRnvTp #ReedAccountancy #Accountancy #Finance #RemoteWork #Tax

The recent shifts towards remote work have introduced significant challenges for businesses, especially regarding corporate tax and legal implications. Allowing staff to work remotely outside the UK can expose businesses to complex tax and legal liabilities. However, there are strategic approaches, such as Enterprise Management Incentive (EMI) options, that can help businesses manage these challenges while offering valuable benefits to employees. https://bit.ly/4aRnvTp #ReedAccountancy #Accountancy #Finance #RemoteWork #Tax

The recent shifts towards remote work have introduced significant challenges for businesses, especially regarding corporate tax and legal implications. Allowing staff to work remotely outside the UK can expose businesses to complex tax and legal liabilities. However, there are strategic approaches, such as Enterprise Management Incentive (EMI) options, that can help businesses manage these challenges while offering valuable benefits to employees. #ReedAccountancy #Accountancy #Finance #RemoteWork #Tax

The “next normal” of cross-border work is reshaping tax compliance for global financial services firms, particularly in payroll taxes. The EY 2023 Work Reimagined Survey highlights that 50% of knowledge workers prefer working one day or less per week in the office, while the EY 2024 Mobility Reimagined Survey shows that 98% of employers now track employee movements domestically and internationally. This shift toward flexible work arrangements introduces some challenges as governments implement the OECD’s Pillar Two global minimum tax project. Payroll taxes are typically deducted based on where employees reside or work, not where they are paid. This discrepancy means that if employees establish a presence in a jurisdiction unknown to the company, it could expose the business to unexpected taxes and create a permanent establishment for tax purposes. To mitigate these risks, FIs must adopt rigorous documentation practices for their workforce’s locations or leverage new tech to track and govern employee presence. A cross-functional approach with tax departments collaborating across the organization is key to tackling these issues preemptively. For a closer look at navigating the impact of remote work on BEPS 2.0, check out this recent outlook piece by Rachel D'Argenio, CPA, MBA: https://lnkd.in/ejYS2s9t

Moving your company to another state impacts many aspects of the business, including the cost of doing business, taxes, HR compliance, and your people. This blog provides questions you should consider before you make the move. #HRCompliance #EmploymentLaw #HumanResources https://lnkd.in/efJeqkp6