PERSONAL SELF ASSESSMENT
Many taxpayers readily admit that they do not understand the complex tax returns and therefore fail to complete them correctly. In the first year of the self-assessment scheme alone, 775,000 taxpayers received penalties for failing to submit their returns on time, and some 400,000 incurred further penalties because their returns were still outstanding six months later! From the 2011/12 tax year onwards, even if you have no tax to pay at the 31st January deadline, if you return is filed late you will incur a late filing penalty.
The constant changes to tax legislation means not only that the returns are becoming even more difficult to understand but also that taxpayers risk incurring more penalties through failing to complete their returns on time or correctly.
We can save you a lot of time, worry and money by handling your self-assessment for you. We will do all the necessary computations, complete your return, and maybe more importantly, offer advice on how you can minimise your tax liability.
We will calculate your tax payable and advise you accordingly in order for you to make payment by HMRC deadlines. We will also explain how the tax is calculated and when you should expect to pay your next instalment of tax.
We can act as your agent, dealing directly with the Revenue on your behalf and, should you be selected for a self-assessment enquiry, act for you at any meetings.
CORPORATE SELF ASSESSMENT
We will calculate your company's tax payable and advise you accordingly in order for you to make payment by HMRC deadlines. We will also explain how the tax is calculated and when you should expect to pay your next instalment of tax.
We have a lot of experience in all areas of tax, including Capital Gains Tax. We can help you calculate the tax on any gains made and submit details to HMRC, including in real time on gains on residential property.
With the tax regime becoming more complex and more emphasis being put on taxpayers' individual responsibilities, everyone who is subject to taxation needs professional advice and support if they are to optimise their tax position and ensure they meet all the compliance requirements.
We can provide you with year round tax advice on; Income Tax, Capital Gains Tax, Inheritance Tax, Construction Industry Scheme and Corporation Tax.
It is often uneconomic for small to medium sized businesses to prepare their own payrolls and to deal with the ever-increasing burden of PAYE and NIC regulations. The time constraints are becoming increasingly more onerous and the penalties for incorrect processing are now severe. We can provide help and assistance where required by our bureau payroll service. With the onset of RTI (Real Time Information) from 6th April 2013, it has become even more important that your PAYE reporting is processed correctly. We can provide you with:
* A fully RTI compliant complete system
* Monthly or weekly payrolls with PAYE remittance details.
* Fixed or variable rates of pay, bonuses and overtime, SSP and SMP.
* Directors National Insurance, Class 1A, etc., including completion of P11D’s
* Full end of year service
* Assistance with Covid-19 government schemes and processing claims under the Job retention scheme for furloughed workers
Old Forge Court Colchester Road
CO7 7EA (behind FV Conservatories)
Howlett Accounts Limited trading as Goody Chartered Accountants and Tax Advisors
Company Number: 06498126
VAT number: 209 9731 82
Company Director: Miss Suzanne Goody BFP FCA
ICAEW regulated firm: 8759339
If you have any queries or wish to make an appointment, please contact us:
07815 150244 (call or WhatsApp)