To us, tax compliance means on-time filing and payment with Revenue. Non compliance will mean that Subcontractor C2 certificates and tax compliance certificates are not renewed on time. This has severe cash flow consequences for the taxpayer when customers either cannot pay or deduct RCT at 35%.
Sole Traders/Self Assessed tax payers
Self assessed tax payers are required to make a preliminary IT payment on or before 31 October each year. As late payment of IT leads to interest being charged, it is important that self assessed tax payers have good book keeping systems to allow the early calculation of assessable amounts. If IT returns and accounts are not filed on time with the Revenue, late filing surcharges are imposed. We work with our clients to improve their book keeping system so that IT payments are paid on time and accounts and returns are filed by the due date.
Limited Companies are required to make a preliminary CT payment on or before one month prior to year end and file their CT return 9 months after year end. As late CT payments will lead to interest charges, it is important that a company’s accounting & forecasting process is sufficiently reliable to allow the early calculation of assessable profits and gains. If company accounts and CT returns are not filed on time with the Revenue, late filing surcharges are also imposed.
We work with our clients to ensure their accounting & forecasting processes are reliable. This helps to ensure CT payments are made on time and that accounts and CT returns are filed by the due date.
Tax planning can be a sensitive topic and is one which changes over time based on precedents and changes in law and practice. However, this quotation fairly represents the case for tax planning within the law. Using good tax planning and advice, it may be possible to minimise a client’s tax liabilities.
Our taxation services are designed to offer you and your business optimum tax-efficient solutions. We ensure that tax advice is not given in a vacuum – that it takes account of personal circumstances and the business context.
Corporate Tax Planning
Income Tax Planning
Revenue Investigations and Audits
Capital Taxes Planning
Gift and Inheritance & CGT Planning