Engagement terms set out the basis on which we will complete
your self assessment tax return. You are legally responsible
for making a correct return in respect of your annual tax
liability and for payment of your tax on time. It is essential
that we as your agent are supplied with all relevant information.
- We
shall prepare your personal tax return together with all
relevant supplementary pages. You are responsible for
providing all the information, which we require for this
purpose and all relevant data should be made available
to us.
To avoid Interest, penalties and/or surcharges the client
needs to provide all information and documentation in
time for the return to be submitted by the due date.
This covers not only
(a) any changes in previously reported categories but
(b) new sources of income and/or gain whether taxable
or taxed at source.
Providing all information and documentation-including
where appropriate Notice of Coding (P2), P60, P45, (car
mileage benefit) and benefits in kind (P11D). etc.-is
received timely to deadlines, which will be conveyed
to you, we undertake to prepare for signature this statutory
document.
- We
shall forward your tax return form and supplementary pages
for your approval and signature within 28 days. At this
point you are responsible for sending the return directly
to the Inland Revenue.
- Provided
you give the Inland Revenue authority to send us a copy
of the tax calculation, we shall deal with the Inland
Revenue on any tax enquiries for a period of 3 months
from submission in respect of your tax return, having
discussed such matters with you as appropriate. We will
enclose a mandate to this effect with the tax return for
signature once it is complete.
- We
shall also tell you how much tax to pay and make recommendations
about payments on account and inform you of dates for
payment. Our computation will show
(a) the payments on account, due 31st January in the
tax year and that due 31st July after the end of the
tax year together with
(b) the final instalment (or refund) due by the following
31 January. N.B. No further reminder will be sent by
this firm although the Inland Revenue will issue direct
to taxpayers a statement on account.
- If
we ask you for information to complete the tax return
and it is not provided within the timescale requested,
so that the preparation and submission of the return is
delayed, we accept no responsibility for any penalty or
interest that may arise. Under the self-assessment regime,
there are a number of key dates by which returns and payments
must be made. Failure to meet these deadlines results
in automatic penalties and interest. You are responsible
for ensuring that payments of tax are made on time.
The cost of non compliance are expensive. Not only has
the return to be submitted by the due date but payments
on account and the final instalment must be paid by
the dates shown above. An automatic penalty of £100
will arise with additional penalties thereafter for
non/late submission of the return. Interest arises on
unpaid tax from the date when due. Surcharges based
on 5% of tax unpaid after 28 days from final instalment
date-arise automatically.
- Our
service is charged at a fixed fee which is disclosed in
the introduction and will be confirmed with you prior
to undertaking the work. We reserve the right to refuse
to undertake the work if we decide your affairs are particularly
complex. You will be invoiced when we send the completed
return to you for signature. The invoice is payable by
cheque to "K & B Accountancy Services" at that point
if you have not already sent payment to us.
- The
service is aimed at completing your tax return accurately
and checking the Inland Revenue's calculations. We do
not aim to advise you on how best to avoid tax, but will
try to ensure that you obtain all allowances and relief's
that you are entitled to.
- As
the signed return, together with any supporting information
(we consider appropriate) will constitute a taxpayers
full disclosure, we reserve the right to have written
confirmation on any particular aspect effecting the content.
In the event of an enquiry or investigation being initiated
by the Inland Revenue we undertake to involve the client
at the outset to ensure clarity of communication to the
Revenue.
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