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It is a simple fact that we all have to tip our hat to the taxman every now and then (except perhaps for Hermione Granger, who probably has some sort of obscure spell tucked up her sleeve!). Let’s face it – paying tax is something that everyone loves to hate.
Halloween and the taxman may conjure up similar images in your head – scary men in dark clothing trying to spook you – but it does not have to be this way. Whether it be talismans or good tax advice, these adversaries are easily managed.
Further to my article, ‘How can I pay less tax?’ that appeared in last month’s issue of The Village magazine, a number of readers contacted me for advice in connection with their tax affairs. In this month’s issue, I briefly cover other topics that I hope will be of interest and relevance to you.
Dealing with a tax assessment
If you have received a tax assessment, it is quite possible that it is incorrect. This happens more frequently than you would perhaps imagine. Even if the tax assessment is correct, in certain circumstances it is possible to insist that the tax is not collected.
This is based on a little-known, magical rule buried in thousands of pages of tax lore. It is called extra statutory concession A19, and applies where HM Revenue & Customs (HMRC) have not made proper and timely use of information supplied to them. The taxpayer must reasonably believe their tax affairs were in order.
Dealing with a tax enquiry
A tax enquiry or ‘compliance check’ can be a very unsettling and time-consuming experience. You may feel threatened or that the taxman is ‘out to get you’. This is unlikely to be the case, however. You may have been randomly selected for an investigation, or HMRC may simply wish to double-check certain information that you have provided.
An enquiry will not simply go away if you ignore it. Under certain circumstances, however, you may be able to say ‘expelliarmus’ and request that HMRC bring their investigation to an end. This would apply where you have provided HMRC with all the information necessary for them to check your tax position, and you believe that HMRC have had sufficient time to consider that information.
File your tax return
The deadline for sending a paper copy of your tax return to HMRC has now passed. However, it is still possible to file your tax return online without incurring a late filing penalty, provided this is done before January 31.
If you dread the prospect of sifting through a mountain of paperwork in order to complete your tax return, or if you are struggling to make sense of all the mumbo jumbo, why not delegate this onerous task to a tax wizard who will ensure the job is done correctly and that all available reliefs and allowances are claimed for you?
I am able to prepare a fairly simple tax return, and provide unlimited support and advice, for around £125 plus VAT. If you would like to speak to me about your tax affairs, please do not hesitate to call or email. I would be very pleased to hear from you!
Andrew Crowe
Tax & Business Advisor
Tel: 0121 445 0459
Mob: 07999 541 745
Web: https://www.andrewcrowe.co.uk
Email: .(JavaScript must be enabled to view this email address)