Self-Employed Tax Planning

Many self-employed taxpayers struggle to understand the complex self assessment system and returns. The constant stream of changes to tax legislation means that not only are returns becoming even more difficult to understand, but that the taxpayer is also at risk of incurring penalties by failing to complete returns on time and correctly. We can save you a lot of time, worry and money by handling your self assessment for you. We will deal with the necessary computations, complete the return and even offer advice on how you can minimise your tax liability.

Woolford & Co. can act as your agent, dealing directly with the HM Revenue & Customs on your behalf. Should you be selected for a self assessment enquiry we can also act for you at any meeting. Although many self assessment returns are enquired into by HM Revenue & Customs because it does not understand or is suspicious of some of the information in the return, an equal number are selected at random. This means that every self assessment return could be called for an enquiry and once the enquiry starts there is little control over how long the HM Revenue & Customs will continue the enquiry and the amount of information it will require.

Due to this unknown quantity, we have arranged fees insurance cover for our clients. Most clients take out this insurance each year so that, in the event of an enquiry being made regarding a self assessment return, the professional fees will be met by the insurance company.