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Tax Compliance

Having support for tax compliance is both reassuring and time-saving. We will guide you through all your obligations, ensure your tax returns are completed correctly and on time, and help if there’s an enquiry from HMRC. 

Contact Jill Walker

  • Jill Walker
    Lynn Gracie
    Meet the team

    The team

  • Entrepreneurs. High Net Worth Individuals. International Private clients. 

    Who we can help

  • Personal Tax. Tax Planning. Charitable Giving. Tax Residence and Domicile. Property Tax. Scottish Taxpayers. Partnerships. Trust Planning and Family Investment Companies. International Private Client Tax. 

    How we can help

A TAX SERVICE THAT HELPS YOU SLEEP WELL

There’s much more to tax compliance than submitting your annual tax return. From our perspective, it’s an important opportunity to look behind the numbers and recommend any tax planning strategies to mitigate your short and long term tax exposure.  

Our dedicated tax advisors will take the time to get to know you, so you can benefit from relevant advice that’s appropriate to your circumstances. Beyond ensuring you meet all your statutory obligations, we’ll identify tax saving opportunities and give you the confidence that you’re paying the right amount of tax, now and in the future. 

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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  1. Blog19th Aug 2022

    Making Tax Digital for Income Tax Self-Assessment

    From 6 April 2024, Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) will apply to self-employed individuals and landlords with total business and/or property income above £10,000 per year. Under MTD for ITSA, taxpayers caught by the regime will... Read more

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  2. Blog9th Aug 2022

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    Working Remotely – Nine to five at the office is no longer the norm… but neither is working in a UK office

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  4. Blog25th Jul 2022

    Self-Assessment Taxpayers: is your 31 July ‘Payments on Account’ due for payment?

    Self-Assessment taxpayers who had a liability of more than £1,000 in the 2020/21 tax year are likely to be required to make ‘Payments on Account’ towards their 2021/22 tax liability. The first interim payment was due on or before 31... Read more

    By Carol Edwards

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