Tax compliance

Tax compliance is the filing of Income Tax and Corporation Tax returns and computations at the appropriate time and matters relating to such computations and assessments.  Efficiency in tax compliance work is a natural expectation of an accountancy firm.

Self assessment, the word most synonymous with income tax nowadays. From a compliance point of view we lodge all returns on line which eliminates a large number of processing and timing problems otherwise encountered.

Employment status is very important and topical both in the building trade and with regard to one man contractor or consultancy companies potentially affected by IR35. This is a particular area of expertise within the firm.

Inland Revenue investigations are a major worry for clients. We recommend that clients instigate fee protection insurance in order to meet the costs of defending an enquiry. Our role is to defend the rights of a taxpayer and to ensure that HMRC do not request information or demand unnecessary meetings, to which they are not legally entitled.

The government offers incentives for lodging PAYE returns on line and we took complete advantage of this in 2004/05 and in 2005/06, charging a fee of £60 for a simple P35 which generated a £250 bonus to the client.

Software for running payroll is inexpensive and we encourage clients to process the payroll themselves.  We do also undertake payroll on behalf of clients when this is their preference.