Self Assessment

Although HM Revenue and Customs believe all taxpayers can work out their own tax liabilities and complete their tax returns, the reality is somewhat different.

The tax rules and legislation are extremely complex, and relatively few people who are required to complete tax returns can do it themselves without professional help.

It is responsibility of the taxpayer to Self Assess his income and Capital Gains, and The Revenue then have the right and opportunity to 'challenge' the entries on the tax Return by opening an Enquiry into figures on the tax return. The onus is then on the taxpayer to provide evidence to satisfy the Revenue that the tax return is complete and accurate.

The penalties for late submission of returns provides the government with a lot of extra revenue. Also if the tax payments are calculated incorrectly, interest, penalties and surcharges can be levied. In reality, any enquiry is often more than a year later, so the extra tax due mounts up.

We can help you meet your obligations and advise you on the correct figures to include on your tax return as well as calculate your tax liabilities. This reduces the chances of getting it wrong and reduces the chances of penalties and interest.

We can deal direct with the Revenue on your behalf, and we ensure that tax returns are completed on time and clients are advised of the amounts of tax to pay, when and how.

Our computer systems also allow online filing with the Revenue.

We also offer advice on how to use your various tax allowances and reliefs to minimise tax liabilities.

Contact us today to discuss how we can spare you the headache of Self Assessment.