Taxation Services
We shall prepare, in respect of each accounting period of the company, a computation for corporation tax purposes adjusted in accordance with the provisions of the Taxes Acts. We shall also prepare the return form CT600 and subsidiary forms required by self-assessment. The self-assessment forms together with the supporting corporation tax computations will be sent to you for written approval and signature prior to submission to the Inspector of Taxes [in the required iXBRL format].
Where applicable, we will convert your accounts into the required iXBRL format appropriate for the purposes of submission of the accounts to HMRC. We will provide you with detailed information regarding the tagging applied for your approval.
We shall advise you as to appropriate payments of corporation tax and S455 CTA2010 liabilities (loans to participators).
If the company is selected for enquiry by the HM Revenue and Customs, we will agree separate terms of engagement. The supplementary engagement terms will include responsibilities and fees as appropriate.
You will be responsible, unless otherwise agreed, for all other returns, more particularly: returns relating to employee taxes under PAYE, returns of employee expenses and benefits and the returns of income tax deducted at source as required. Your staff will deal with all returns and other requirements in relation to value added tax.
We shall be pleased to advise you on matters relating to the company’s corporation tax liability, the implications or particular business transactions and on other taxation matters which you refer to us, such as national insurance, income tax deducted at source, employee benefits, value added tax and inheritance tax. Such services would also be subject to separate terms of engagement.
Where specialist advice is required on occasions we may need to seek this from appropriate specialists.
Changes in the Law
We will not accept responsibility if you act on advice given by us on an earlier occasion without first confirming with us that the advice is still valid in the light of any change in the law or your circumstances.
We will accept no liability for losses arising from changes in the law or the interpretation thereof that are first published after the date on which the advice is given.
Your responsibilities
The Directors, on behalf of the company, are legally responsible for:
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Ensuring that the corporation tax self-assessment return (including tagging) is correct and complete;
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Filing any returns by the due date; and making payment of tax on time.
Failure to do this may lead to automatic penalties, surcharges and/or interest.
The signatory to the return cannot delegate this legal responsibility to others. The signatory agrees to check that returns that we have prepared for the company are complete before he/she approves and signs them.
Limitation of liability
We specifically draw your attention to the limitation of liability paragraphs in our standard terms and conditions which set out the basis on which we limit our liability to you and to others. You should read this in conjunction with the limitation of third party rights paragraphs in our standard terms and conditions which exclude liability to third parties. These are important provisions which you should read and consider carefully.