SUBMITTING YOUR RETURNS ACCURATELY AND ON TIME Completing Self-Assessment Tax Returns is probably not your favourite activity, so we’ll relieve you of that burden, at the same providing the reassurance that your liability has been accurately calculated, all appropriate reliefs are claimed and that you are compliant with deadlines for submitting returns and making payments to HMRC. As tax becomes more digitised and HMRC increases its scrutiny, so there’s a greater risk of incurring penalties if there are mistakes in your Return or something is overlooked. Our experts’ attention to detail will pick up any errors and, by checking statements from HMRC and reviewing your tax codes, highlight any discrepancies on their part, which we will then discuss with them.
MAKING AN INVESTIGATION LESS OF AN INQUISITION In recent years, government pressure to recoup as much tax revenue as possible has seen HMRC become more likely to instigate tax investigations – even if they seem unwarranted. HMRC investigations can take a long time and be unsettling, so we will do our utmost to soften the impact. We’ll explain what’s happening, provide all the figures and details that HMRC requires and debate with them if we think their claims are incorrect. We have a strong track record in successfully dealing with HMRC enquiries and investigations. We’ll minimise the disruption for you, make sure you pay only what you owe, and make sure you receive a refund if it turns out you’ve overpaid.
TRANSPARENCY IS THE BEST POLICY HMRC is understandably very active in clamping down on tax avoidance schemes. This should not make you reticent about taking advantage of reliefs that are available to benefit from tax efficiency. We’ll explain your obligations to disclose any tax planning and capital transactions to HMRC and complete all the paperwork required. Although we are never afraid to question HMRC’s decisions if we think they’re wrong, we nevertheless have a good working relationship with them. This helps eliminates doubts for both them and you, and means any disputes are resolved as quickly and smoothly as possible.
SOFTENING THE IMPACT OF TAX DISCLOSURE Sometimes we discover that a client has underpaid tax or failed to pay it at all. If this happens, the best course of action is to disclose it to HMRC voluntarily. Whilst the tax must still be paid, the penalties applied can be lower and as the case is resolved more quickly, the fees involved will be lower too. If it’s HMRC who discover that tax has been underpaid or unpaid, there are greater consequences. The penalty for avoiding tax by using offshore schemes could be up to 200% of the tax due, and there’s the potential reputational stigma of HMRC’s ‘Name and Shame’ policy. In this case, it’s also best to make a disclosure as soon as possible. We can provide HMRC with a full, detailed disclosure which should reduce penalties, and if necessary, we can negotiate with HMRC to achieve the best possible outcome.
We have an excellent relationship with AAB formed over 7+ years. Their accounts and tax compliance services are thorough and efficient, and the specialist tax planning advice we have received has been first class.Stanley & Evelyn Morrice
I have been a personal tax client of AAB for a number of years and in that time they have guided me through the tax return process and provided me with specialist advice relating to my non-resident tax position. Peter Williams
They keep up to date with the changing tax landscape and always present things in a clear and understandable way. I would recommend their services to anyone.Peter Smith
I'm impressed with the “all under one roof” service offered by the private client and AAB Wealth teams, I now have great working relationships with various advisers within the Group. I, and my family, have complete peace of mind.Niall Webster
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