NEWSLETTER FOR AUTUMN 1999

Filing of self-assessment tax returns by September 30was achieved successfully for most clients for the third successive year.

Indeed this year we even managed to lodge the majority by June.   That way most clients were aware of the July 31 instalment, and if there was any "balancing payment" ("mop up") due on 31 January 2000, they were aware of this, and could budget for it.    This is the beauty of acting promptly and giving us the specific documentation referred to in our printed letters.

Clients are thanked for their input on this.  It has been a pleasure to be in a position to help clients so completely and quickly.  It frees both sides to attend to other matters, and means that most clients have benefited by economical fees.

We note that there is still a small number of "defaulting" clients.  Without up to date Financial Accounts, as well as TRIG Forms, we are unable to help those clients who fail to keep their twice-yearly requests from our firm.

Revenue investigations  As a much-travelled firm, we have frequent contact with so many others.  We even provide other firms with the expertise of our knowledge.  

1) It came to light that the Revenue had to take up a quota of investigations before their own "year end" expired.    Initially they claimed that because they had posted out letters of enquiry a day before their "window" closed, they were safe in continuing.  The Revenue lost this, which is only good law.  The Revenue insisted that documents had to be received by them before the cut off date, and so the reciprocal was held to be true, even if they did not want to believe it.

2) Nevertheless, some Revenue Officials have taken up enquiries.  These have taken the form of simple requests: such as "can we have sight of payment of pension premiums?"  Although this was dressed up in the usual intimidating paperwork, where our clients had the good records (the ones we prescribed), the enquiries were settled.   The lesson here is that where we have made recommendations, those clients that took notice and action had a good - and economical - result.  Those clients that chose to "do their own thing" over bookkeeping, or even with the TRIG form, unfortunately had to meet the price of our extra time.   Remember we are on your side.

3) When preparing the tax return in 1999 we specifically requested vouchers.  Interestingly, this revealed many errors that clients had made on their TRIG Forms.  Luckily with our care, we were able to pick these errors up, and ensure that clients had properly prepared Tax returns.  The cut-price tax shops/advisers do not do this.   The additional strength in using certificates especially on small credit bearing private bank accounts is that no Revenue official can insist on inspecting the private bank account as the figure for the tax return was not produced from the statements but the certificate.  However those clients who use a joint bank account when one person is self-employed are still putting themselves in a weak position. We have advised clients of this previously.

The media has picked out our practice for consultancy work Again, it shows how long hours are spent in keeping up to date in order to provide you with a top class service.  A comparison with other professionals has received the response: " you do all that for that low fee?"  Yes, and it is with your help and co-operation that we intend to keep it that way.  Can we count on your support?