Self assessment
Individuals and businesses that are resident in the UK in any tax year (which runs from 6 April to the following 5 April) are obliged to complete and submit a tax return. For individuals this must be done no later than 31st January following the tax year in question.
The constant stream of changes to tax legislation means that not only are the returns becoming even more difficult to understand, but also that taxpayers risk incurring more penalties through failing to complete their returns on time or correctly.
Woolford & Co. can save you a lot of time, worry and money by handling your tax affairs for you. We will calculate all the necessary computations, complete your return and even offer advice on how to minimise your tax liability.
We will act as your agent, dealing direct with HM Revenue & Customs on your behalf and, should you be selected for a self assessment enquiry, act for you at any meetings. Some tax returns are enquired into by HM Revenue & Customs because they do not understand or are suspicious of some of the information in the return. An equal number are, however, selected at random. This means that any tax return could be called for an enquiry, and once the enquiry starts there is little control over how long HM Revenue & Customs will continue the enquiry and the amount of information it will require.
We arrange professional fees insurance cover for our clients, which most of our clients take out each year. In the event of an enquiry being called on a tax return, the fees will be met by the insurance company.
