Blog
May 2010
The Self Assessment Tax Return season 2010 is away.
Our first clients tax return was filed online with the Inland Revenue last week. Our client should receive his refund of over £9,000 before the end on next month if HMRC are efficient enough.
Two clients returns filed in January 2010, have not had their refund yet (totalling £26,000), even though we have been chasing it every week for the last 4 months. The delays at HMRC processing units have been due to pressure of work at their end, and being short staffed too. These types of delays are set to get worse as the government cutbacks ate set to be implemented.
During this time clients and their accountants all over London will experience delays and additional costs chasing their refunds.
Here are 7 tips we are testing to getting refunds in early:
1 Make sure your accountant has registered you for online filing of your tax return, and have the facilities to file this online for you.
2 Keep excellent records - so your accountant can calculate the correct tax (refund) positions quickly and efficiently.
3 Pass on the information to your accountantant aS soon as they request it in April each year. If they do not request it, ask them why not and request they prepare your Tax Return earky.
4 When you are sent your return, completed within 20 days, review it carefully and discuss any issues with your accountant early, and have them resolved.
5 Provide any missing information and explanatiopns to your accountant immediately you are aware of the shortfall.
6 Approve the Self Assessment Return as soon as your accountant send the final version to you (make sure your bank details are included on the return to receive the refund).
7 Once you have been sent the confirmation of the online filing from your accountant, allow only 7 days before you start calling your HMRC office to chase the refund.
The Online Process
1 The filing of the Self Assessment Tax Return onlinme does not mean it is processed. It has only been logged at that point.
2 The second stage is the HMRC office has to process it and authorise the refund (if any).
3 If the refund is large, it has a further check at HMRC offices. A senior supervisor has to check all is in order before you are sent your refund.
Good luck with your refund, and rember - spend it wisely...
Regards
Gordon D'Silva - Business and Taxc Expert
Central London - Wimbledon - Croydon
Call 0208 241 3000 forelp or a second opinion.
Client testimonial "I have interviewed half a dozen accountants in the last 3 weeks and you are head and shoulders above all of them" Philip - Company director (May 2010)
April 2010
PAYROLL Services in Central London, Wimbledon & Croydon, by Chartered Accountants and Business Experts
A busy month for administration in your business, or if you have a great accountant, like us, it will all be done for you. The PAYE year end closed on 5th April, and the forms need to be submitted by 19th May 2010.
Our office in Wimbledon has been as busy as many Accountants in Central London work hard to meet deadlines on behalf of their clients.
Clients looking for Accountants in Croydon have found our services to be cost effective and efficient, helping them save tax.
For a second opinion on your tax returns and planning call Gordons Knight, Chartered Accountants, Business and Tax Experts on 0208 241 3000.
Warm Regards
Gordon D'Silva
December 12th 2009
Wood showed poor morality and values and unsurprisingly he got caught and will probably mean he loses more than money alone, much more.
In Business it is sometimes easy to forget that morality is important and critical to your long term success. If you want to be part of an organisation that lives by consistently high moral standards and demonstrates the significant success that this brings, call us on 020 8241 3000.
December 9th 2009
Darlings Pre Budget Report delivered see our "News" tab for key information and top tips.
December 1st 2009
Get your tax return information to us now to avoid the risk of penalties.
November 2009
Has the Post Office made more money during the strike? Am I the only person to send 10 times more through "Recorded Delivery" or other premium postal services. Given that these are 20 to 30 times more expensive that the normal service, it seems they have discovered the Niche that has been eluding them since the pro-competition rules kicked in...
And consider this...the most expensigve part of the business appears to be the human element, ie the delivering the mail to mailboxes up and down the country.This is left to the unprofitable POST OFFICE. The competion on the other hand get the easiest part, collecting bulk mail from the largest users!
As an enterpreneur, I know which I would rather have as a business, wouldn't you?
