In recent years the amount of paperwork associated with tax compliance has increased dramatically. However, it is important to keep up-to-date to ensure that you claim all the reliefs, allowances and credits to which you are entitled. This will also ensure that you avoid interest and penalties for failing to comply with the Inland Revenue’s requirements.

Under the self-assessment regime, if a Tax Return is not submitted by 31 January following the end of that year, a penalty of £100 may be incurred. The longer the delay in filing the Return, the greater the exposure to penalties and interest. The Return has to be dealt with at some stage, so beat the deadline. This is where we can help. 

We have a team of tax professionals who have extensive experience in the preparation of Tax Returns for individuals and trusts. Because we have detailed knowledge of our clients personal circumstances and investments, Tax Returns can be completed in a more efficient and cost effective manner. We use the latest computer software to complete Tax Returns which can now be filed with the Inland Revenue by Internet thus ensuring that liabilities and tax repayments are processed on a timely basis.

It is no longer necessary to submit supporting documents and schedules with Tax Returns. Indeed, the Revenue no longer require Accounts in support of the Return. Nevertheless we provide a detailed schedule of income from all sources for our clients in support of their Tax Return to ensure that nothing is overlooked, and to provide them with a reference for the information which will be required for next year’s Return.

Also, under self-assessment it is your responsibility to make payments of tax at the prescribed times. Late payments lead to interest and surcharges. We can relieve this burden by ensuring that payments are made at the appropriate time from funds held on your cash management account at Cardale Stockbrokers Limited. 

In addition to our compliance service, our tax team will consider mitigation of income taxes, capital gains tax and inheritance tax. We can also advise on the use of trusts for both Capital Gains Tax and Inheritance Tax efficiency.  

For further information, please speak to John Osbaldeston or your usual contact at Cardale Stockbrokers Limited.