UK Advisory

The range of advice we can offer includes, but is not limited to, the following:

•  Use of international pension plans to help reduce tax within the UK.

•  Specific UK tax planning catering to the individual's particular circumstances

•  UK PAYE/NIC advisory and consultancy services for companies setting up in the UK

Insurance

Link to:

•  HMRC: http://www.hmrc.gov.uk/index.htm

•  The Chartered Institute of Taxation: http://www.tax.org.uk/

HMRC Deadlines

These have changed slightly for tax years from April 2008 and these adjustments should be noted:

October 31 st

Deadline for submission of Paper Tax Returns

January 31 st

Deadline for submission of Online Tax Returns

Balancing Tax Payment due for both paper and online submissions

1 st Payment on Account due for following year (if applicable)

July 31 st

2 nd Payment on Account due for following year (if applicable)

 

Penalties for Non Compliance

Interest runs from the due date of any payment.

HMRC has statutory powers to impose penalties should a taxpayer fail to file a tax return in accordance with the above dates. These penalties fall into three categories, namely, fixed penalties, daily penalties and tax geared penalties.

A first fixed penalty of £100 is charged automatically from the day
after the filing due date above. A second penalty becomes due if the
tax return has not been filed 6 months after the 31 st January (for both paper and online tax returns). Should the submitted tax return show
a refund, the fixed penalties will most likely be refunded.

Instead of charging the second fixed penalty, HMRC can choose to impose a daily penalty at a rate not exceeding £60 a day for each
return if the taxpayer continues to fail to file.  

Tax geared penalties apply once a full year has passed from the
original filing date and are calculated on the tax liability shown
on the tax return.