Tax Compliance
In an era of increasingly harsh penalties for compliance failures and increasing responsiblities being passed to the taxpayer it is more important than ever that tax reporting is completed timeously and accurately. Failure to comply with the legislation can in some cases result in horrendous levels of penalties, as much as 100% of the tax payable plus interest so without detailed knowledge of the tax legislation compliance can be a nightmare.
At John M Taylor & Co, our dedicated team of tax advisers can provide you with advice and services to ensure that you meet all your compliance requirements and remove the administrative burden that would otherwise fall on your shoulders.
Examples of compliance services offered include the following:-
Company Taxation:-
Completion of form CT600 Corporation Tax Return
Submission of Corporation Tax Returns to HMRC along with the necessary supporting documents.
Notification of all compliance deadlines
Considering the application of all possible reliefs and allowances
Calculating the amount of Corporation Tax payable and due dates
Advice on quarterly Corporation Tax instalments, if required
Quarterly CT61 Returns in relation to interest payments made
Completion and filing of monthly Construction Industry Scheme returns
Submission of Annual Returns to Companies House
Employers - P11D Returns:-
Identifying benefits and expenses to be reported to HMRC
Completion and filing of P11D Annual Returns
Calculating the Class 1A National Insurance liability and due date
Advising on business expense claims
Dispensation applications for expenses paid to employees
Recording systems for expenses payments
Employers:-P35 Returns
Completion and filing of Annual P35 Return
Calculating the tax payable by your employees on their salaries
Advising you of payments due to HMRC and due dates
Advising on PAYE registration requirements
Advising you of your duties under the national minimum wage legislation
Advising you on statutory holiday entitlement and holiday pay
Assisting you with the calculation of statutory maternity/paternity/adoption pay and reclaiming this from HM Revenue & Customs.
We can also offer advice on general employment law matters.
Personal Tax Compliance:-
Annual completion and filing of Self Assessment Tax Returns
Calculating your tax liability and any payments on account requirements
Reviewing and reducing payments on account where possible
Notifying you of all submission deadlines
Reviewing PAYE codes to make sure you aren’t paying more tax than you have to
Reviewing the availability of possible allowances, reliefs and Tax Credits
Capital Gains Tax reporting for chargeable gains
Dealing with National Insurance obligations and applications; state pension forecasts
Completion of student grant forms and student loan applications
Assisting you with the completion of mortgage applications
If you would like more information on our services or would like our assistance please contact us.
