Self Assessment
Most people pay their Income Tax and National Insurance obligations via their employer under the PAYE scheme. But for people who own businesses or shares, make investments, receive property revenue or other income-earning initiatives, the Self Assessment deadline on January 31 looms as an annual date of some dread.
Although increasing numbers of people are submitting simple returns personally to the HM Revenue & Customs, LMG handles the returns of its small and large business clients, as well as those individuals whose investments mean their tax affairs are more complex. We also handle work on behalf of those individuals where the Inland Revenue has decided to make investigations on the returns they have submitted themselves.
Under Self Assessment, the responsibility for determining the amount of tax we pay lies with us, the taxpayers, and there are substantial fines for non-payment, which are often much more than the tax liability.
We plan our work to ensure that our clients avoid such penalties, including sending them timely deadline reminders.
If you would like to understand more about your own personal UK tax liabilities, please contact LMG. Our intention is always to provide a professional service at a cost-effective rate that reflects the work needed to be carried out on a client-by-client basis.
Self-assessment investigations
With more people handling self-assessment returns themselves, HM Revenue & Customs now makes a number of self assessment investigations to check the accuracy of tax returns.
Should your tax affairs be subject to an investigation, we can deal with the tax office on your behalf or, if you prefer, assist you in dealing with their enquiries.
If you have a query about your tax affairs, or you are facing investigation, or you have failed to submit a return this year, we welcome initial enquiries using our Enquiry Form.