In recent years, tax compliance has become more important than ever before. It is now much more than simply ensuring the correct boxes are ticked, as HMRC have raised the stakes by imposing excessive penalties for errors and missed deadlines as well as setting up specialist teams to target certain trade sectors.
This means you need to be fully compliant which is very difficult for the average taxpayer due to the mass of tax regulations. Unfortunately, HMRC believe “Tax doesn’t have to be taxing” which, as many taxpayers know, is far from the truth due to the increasing complexity of the tax system. In extreme circumstances, penalties for inaccurately completed returns or forms can escalate to 100% of the tax under declared.
In the unfortunate event that you make an innocent error, we can approach HMRC on your behalf ensuring that the correction process is dealt with in the appropriate manner to ensure penalties are kept to a minimum.
At GCSD Accountants our team has years of experience in ensuring that clients comply with their tax obligations across a broad range of taxes – including PAYE, Income Tax, VAT, Inheritance Tax, Corporation Tax and Capital Gains Tax.
If you wish to find out more about the tax compliance services we can offer then please feel free to contact us.