Tax compliance is the filing of Income Tax and Corporation Tax returns and computations at the appropriate time together with 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.
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.
The introduction of Real time Information (RTI) in 2013/14 has created another layer of bureaucracy particularly for the one person company and we have a very neat solution for complying with this.