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Taxation Services

Personal and Corporation Tax

Tax Compliance

All businesses and individuals are subject to a variety of tax regulations. We have the necessary expertise to ensure that you comply with all statutory requirements, whilst minimising your tax liability, where at all possible. We efficiently handle Self Assessment tax returns for the following:-

Companies
Individuals
Partnerships
Trusts
Non Resident Companies and Trusts
Will Trusts arising from a deceased's estate

In addition we can handle PAYE compliance matters such as the preparation of form P11D, return of directors expenses and Class 1A national insurance issues.

We also offer a personal and corporation tax planning advisory service with a view to tax mitigation.

We can also advise non UK residents and non UK domiciles on tax and planning issues.

Tax Investigations

Offshore Tax Amnesty

This opportunity is available to those who hold or have held an offshore account, either directly, perhaps through a trust arrangement, that is in any way connected to a loss of UK tax. So, it is not just the accrued interest that HMRC are seeking to tax but, in their own words, this must be a full disclosure of all undeclared liabilities, not just those connected with an offshore account.

There are two key dates – 22nd June 2007 by which to notify an intention to disclose 26 November 2007 to submit the disclosure and make full payment.

The carrot of a reduced penalty of 10% of tax due does not seem very attractive against a normal loading of around 30% depending on amount of tax lost and co-operation, and it remains to be seen whether many will take up HMRC’s offer.

If you are in any doubt as regards your tax affairs, please call Allan Steinberg F.C.A for an initial discussion.

Tax District Offices

Local Tax District Offices (TDO's) are responsible for most taxpayers' income tax, corporation tax and PAYE/NI affairs. Each year HM Revenue & Customs conduct a substantial amount of enquires into the affairs of personal taxpayers and companies. Of these many are of a routine nature, but others can be transformed into a full enquiry.

HM Revenue and Customs may enquire into self assessment tax returns which may be either full enquiries, where submission of all records may be required, or aspect enquiries which will concentrate on one or more aspects of the return. These enquiries are usually dealt with at District level and the Revenue do not have to give reasons for opening an enquiry.

Special Civil Investigations

The Special Civil Investigations Office is the specialist investigation unit of HM Revenue & Customs. It handles complex cases of individuals and companies including those suspected of serious tax fraud and is also responsible for conducting criminal prosecutions.

This unit deals with the most serious cases of tax avoidance and evasion. In most cases however, prosecutions do not occur. The Special Civil Investigations Office then has responsibility for negotiating financial settlements.

Investigations which are undertaken by the Special Civil Investigations Office are a specialist area. Allan Steinberg & Co have many years relevant experience and proven success in dealing with such investigations.

VAT Investigations

In addition to tax investigations, we can also advise in connection with VAT investigations into registered traders.

Such investigations may result from a routine VAT inspection which uncovers irregularities, or may be instigated by an inspection into your customers or suppliers.

Of particular interest to HM Revenue & Customs at the present time are traders in mobile phones, computers and micro-chips where sometimes unwittingly they form part of a 'carousel' (a series of companies who intertrade and whose objective is to evade VAT).

Currently substantial VAT refunds are being withheld by HM Revenue & Customs from companies whose activities may be extremely innocent. Repayments may not be made until HM Revenue & Customers are satisfied that the sales VAT has been paid over by the first supplier.

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