Q: Do I need a Tax Advisor/Tax Agent/Accountant?
A: It’s a personal choice. There are many reasons for appointing someone to look after your tax affairs. Tax and Accountancy can be complicated and/or time consuming. Keeping up to date with changes in legislation, what can and cannot be claimed, changing rates/allowances and laws that may or may not apply is often reason enough for many people to employ an agent. People who have busy lives and/or a business to run might decide that appointing an agent is the best way to ensure that all tax breaks are taken advantage of, that all compliance issues are dealt with within the law and that all deadlines are met. Those not in business often want the “hassle” of dealing with tax taken away and the reassurance that employing an independent firm brings, namely knowing everything is being dealt with timely and correctly.
Often an Accountant is a Tax Advisor and a Tax Advisor is an Accountant. Most people working within Tax train within HMRC itself or within firms of Accountants before going on to specialise in Tax. Within The Tax Team we offer the services you would associate with a firm of accountants covering Accounts and Accountancy, Personal and Corporate Tax and Advice.
Q: If HMRC have not asked me for a Tax Return or have told me I do not need to do one who’s responsibility is it to get things right?
A: The taxpayer’s…yours. The fact that HMRC have not issued a Return or have told you that you do not need to do one means little. It is the taxpayers’ responsibility to check their position each year and advise HMRC if a Return is needed and/or if their tax is wrong, even if it is HMRC’s error. If in doubt it is always best to submit a form whether requested or not. (see below)
Q: Can I submit a Return even if HMRC have not issued one?
A: Yes, provided you already have a 10 digit UTR (Unique Tax Reference). This can be the best way to ensure that there is no reason in the future for HMRC to question events in previous years. However, it must be stressed you are under no obligation to do a Return unless HMRC ask for one and/or you need to do so to declare a liability/information to HMRC.
Q: I don’t have a UTR, how do I get one?
A: Only HMRC can issue UTR’s. You need to contact your local Tax Office and explain why you wish/need to submit a Return. They will then issue a UTR. Alternatively, if appointing an agent this is normally something that would be done for you as part of the service. Once issued, a UTR is valid for ALL future years.
Q: I haven’t got a clue how to calculate my position, what do I do?
A: HMRC issue guides to help. If, after looking at the HMRC instructions you are baffled (or decide you don’t want to do it) then you have a few options. You can make an appointment with a local tax office and see if they can help in person. Alternatively, submitting the information to HMRC before certain dates means they will calculate the tax situation for you (see Calendar for dates). Finally, employing an agent to look after your tax affairs will mean that the agent will calculate the position, agree the position with HMRC and advise you of the date(s) when tax becomes payable.
Q: I have received correspondence from HMRC re a problem with a previous year or I haven’t completed a Return in the past when I should have. Can you help?
A: Yes. We often deal with several years at once or “out of date” years where for whatever reason matters are not up to date. It is not our job to “judge” why a situation has arisen (though we will not deal with anything that is illegal or fraudulent), but to make sure that matters are dealt with correctly in bringing you tax position up to date.
Q: I don’t need to do a Return but want to claim tax back and don’t understand what to do, do you deal with Tax Claim forms?
A: Yes, we deal with any situation where you need to submit a form to HMRC, not just Returns.
Q: I trade as/I am thinking of trading as a Limited Company. Can you help?
A: Yes. We can advise on how to trade efficiently from a tax point of view or where you wish to trade as a Limited Company to protect personal liability. A full service can be provided re the Company (and Directors) re Statutory Accounts and all associated work.
Q: Can I come to you for VAT advice?
A: Yes. We advise on VAT compliance issues.
Q: I’m still not sure I need to appoint someone but would like some advice, can I call you?
A: Yes. We will happily answer questions over the phone, via email or if you would prefer and are near one of our offices you can make an initial appointment without further obligation.
Q: I am often abroad, work/live in different places or simply don’t have time to get together to go through things but need a Tax Agent. Will you accept me as a client?
A: Yes, provided we can prove your identity with a valid correspondence address and you can provide a photo card copy of your driving licence/passport and further documentation as appropriate (including our verification of your NI number with HMRC), then we can deal with all matters on an ongoing basis via phone and email. Briefly put, not being near to one of our offices is not a problem.
Q: Do you deal with expatriates?
A: Yes. We deal with UK tax affairs of clients living and working all over the world. We can deal with correspondence and provide documents via mail (where reliable) or via email in secure PDF format where preferred.
