Annual compliance service

Our experts can advise you on every aspect of personal tax, but it’s our holistic service that really stands out. Whether we are providing compliance or advisory services, we’ll stay in touch with you throughout the year regarding planning opportunities.

RSM’s annual tax compliance service covers far more than tax returns. It includes:

  • meeting you to review your tax position and to provide proactive advice to help improve your affairs for the next tax year;
  • gathering information from you and third parties;
  • preparing the tax return for your review;
  • filing the return with HMRC;
  • responding to any queries HMRC may raise regarding your return; and
  • advising on your tax payments due.

Even though HMRC recently announced the end of tax returns, shifting the onus of responsibility from HMRC to the taxpayer, good advice will still be needed. The new tax account will effectively make visible the information HMRC already knows. It will then be for you as a taxpayer to review the information and agree it.

There will still be a need for taxpayers to enter further information in some situations, possibly with the help of their tax agent as happens now. This includes:

  • those with complex tax affairs, with income and gains from many sources, who will want HMRC’s data to be carefully cross-checked; 
  • those with sources of income and gains which are unknown to HMRC. This might include, for example, self-employment income, overseas income and gains, and some sales of personal assets; and 
  • those who are either non-UK resident or non-UK domiciled.

Failure to get the tax information provided to HMRC right can result in financial penalties and, in some cases, lengthy enquiries.

If you require support to ensure that your personal tax affairs comply with HMRC’s requirements, contact an adviser who will help you.