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 JMT, 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:-
- Completion & 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 return
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:- Payroll RTI Returns
- Completion and filing of monthly EPS/FPS submissions.
- 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.
- Administering your Auto Enrolment pension scheme.
We can also offer advice on general employment law matters.
Personal Tax Compliance:-
- Annual completion and online 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
- Assisting with Working / Child Tax Credit claims
If you would like more information on our services or would like our assistance please contact us.