It is a sad fact of life that we must pay tax on our income, although the rules and regulations determining how much tax we should pay are both lengthy and complicated. Some things that you should consider when preparing to submit your Tax Return in the UK each year are:
- You can often claim for expenses that you would not otherwise consider, thus saving you money.
- In normal circumstances the Inland Revenue only have until 12 months from the date of submission of your Tax Return to open an enquiry.
- In the event of an enquiry, penalties charged by the Inland Revenue can be as much as 100% of the additional tax charged.
- The Inland Revenue charge interest on late payment of tax, even if you did not know it was due.
- Automatic penalties are charged for failing to meet your obligations.
It's easy to see how ordinary men and women can pay too much tax year on year without realising it.
At TDR Tax we pride ourselves on helping people to meet their legal obligations, whilst ensuring that they do not pay more than is necessary to the Inland Revenue. We focus our efforts on ensuring the best for the customer, and take away the worry that frequently comes with dealing with your tax matters.