The term 'Self Assessment' is proving to be one of the great misnomers of all time. Many taxpayers struggle to understand the complex Tax Returns and complete them correctly. In the first year of the regime alone, 775,000 taxpayers received £100 penalties for failing to submit their returns on time, and some 400,000 incurred further penalties because their returns were still outstanding six months later!
The constant stream of changes to tax legislation means not only that the Returns are becoming even more difficult to understand but also that taxpayers risk incurring more penalties through failing to complete their Returns on time or correctly.
We can save you a lot of time, worry and money by handling your Self Assessment for you. We will do all the necessary computations, complete your Return and even offer advice on how you can minimise your tax liability.
We can act as your agent, dealing directly with the Inland Revenue on your behalf and, should you be selected for a Self Assessment Enquiry, act for you at any meetings.
Company Tax Planning
At Watson Associates, our tax specialists will help steer you smoothly through the obligations and opportunities of the taxation environment to help ensure maximum profitability for your business.
Optimum tax efficiency is an important goal for businesses of every size, and through a detailed understanding of your current and future business objectives we can help you structure and plan for better tax efficiency both immediately and in the medium to long term.
Our thorough approach to tax planning looks first at your business history, reviews current policies and then makes concrete recommendations for the future with a comprehensive examination of share options, pension schemes, executive benefits and other vehicles.
We are experts on every aspect of taxation, from VAT, PAYE and Corporation Tax to capital gains, international and personal tax matters. Our close relationship with the Inland Revenue and extensive knowledge of the workings of local tax offices means that we can always determine the most effective course of action.
With professional advice on a wide range of tax matters, Watson Associates can make a substantial contribution to the overall profitability and efficiency of your business.