However, having reviewed why the incorrect code had been operated for so long, it was clear that the client had done everything right, and that HMRC were at fault. We wrote to HMRC appealling against the assessment under Extra Statutory Concession  A19. In fairness to HMRC, rather than protracting the issue, they accepted fault straight away and wrote off the arrears of tax. Result, one happy client and a very satisfied accountant.

Timing can play a great part in Capital Gains Tax planning and we will discuss this with you to ensure a timely disposal of assets is made, where possible.

Business owners can generally take advantage of the lowest rate of Capital Gains Tax of 10%, through the application of Entrepreneurs Relief. We will advise you on the application of this and ensure that you take appropriate steps to ensure, where possible that this rate applies to you.

We will review your wealth and your Will arrangements, and advise you of the present Inheritance Tax consequence. If this gives rise to an issue we will advise on ways of mitigating this. This may involve divesting yourself of assets, or in certain cases will still give you access to your assets to spend as you wish.

We prepare the VAT Returns for a number of clients as part of the bookkeeping process. Clients will receive not only a copy of the VAT Return showing the VAT due, but also details underlying the VAT and an analysis of business performance. This enables clients to keep up to date with their business performance, and well as meeting their compliance obligation with HMRC. The VAT returns are submitted online, which gives clients more time to pay any VAT due.

We have many years experience in dealing with HMRC through routine correspondence to dealing with HMRC enquiries. We are aware of the pitfalls that befall many businesses in dealing with their tax affairs and our aim is to make sure that these do not apply to you.

We are also represented on the Working Together Forum, which is a joint platform of HMRC and the professional bodies designed to ensure that the tax system is working as it was designed to do. Issues are raised with the local office for review, on an ongoing basis and discussed at meetings throughout the year. HMRC in turn keep us up to date with regard to issues that they believe are appropriate to our clients. Recently, we attended a meeting of Tax agents at Downing Street, with HMRC and the Secretary to the Treasury to discuss how to make the tax system work better. The ideas put forward for consideration will enhance the tax system in general.

The penalty for late submission of accounts to Companies House starts at £150 for one month, and increases to £1,500 for twelve months delay. In certain circumstances the late filing penalty can be doubled.

We aim to complete annual accounts in Companies Act format on a timely basis to ensure that the results discussed are relevant to the current trading position. In addition we will check that the deadlines for submission can be achieved and we will work with clients to ensure that these are met.

We prepare management accounts for the most successful businesses, and discuss the results with clients so that they know they are on the right road, and that they will achieve their destination in the shortest possible time.

We also advise on areas of tax mitigation, as appropriate to your circumstances, to ensure that you only pay the correct amount of tax due.

The cost for the preparation of Income Tax Returns starts at £200 plus VAT.

The penalties for late submission of personal Tax Returns are due to increase for 2010/2011 Returns. Late submission will give rise to an automatic £100 penalty with no mitigation for early payment of tax. Daily penalties will follow for continued lateness up to a maximum of £900. Thereafter the penalties will be the higher of £300 or 5% of the tax liability, each six months.

Our success rate in submitting timely Returns is almost 100%, and we do chase and cajole clients into submitting information to us for processing. This will be even more vital in the coming twelve months.