The list is endless.
In some circumstances, whilst not strictly necessary to file a tax return, it can also benefit you to complete one. For example, if you make pension contributions or charitable donations, you may be missing out on a tax reclaim. Or you may be generating losses in letting a property or in selling assets. You will only be able to use these losses to reduce current or future tax liabilities if you report them on a tax return.
HM Revenue & Customs (HMRC) now have the ability to obtain information directly from sources such as your employer, your bank and many more. They use this information to cross check the accuracy of your tax return, and sometimes a careless error or inexperience can result in an enquiry. We can ensure that your chances of receiving an enquiry into your tax return is as low as possible. Should an enquiry occur we can help you through it, we can negotiate on your behalf to ensure that any penalties are kept to a minimum. Once we are familiar with your affairs, we can suggest various methods of reducing your taxes, with efficient tax planning and government backed investments.
By choosing to use our tax return preparation service we can give you peace of mind that your tax return is being completed correctly and to a high professional standard. With constant changes in legislation and higher powers of enquiry being introduced, it is becoming ever more important that professional advice is sought, even with a “simple tax return”.