Tax compliance, putting it simply, means keeping your tax affairs in order. That is, complying with the fiscal rules and regulations as monitored and enforced by HM Revenue & Customs.
Taxes can be complicated, and ensuring compliance can cause individuals anxiety. Compounding the complexity of compliance is the fact that tax laws frequently change, not only on Budget Day but throughout the year as tax cases are decided in the Tax Tribunals and higher courts. This means that if you are not up to date in your knowledge of tax laws and recent changes, you may face inadvertent non-compliance. And unfortunately, non-compliance can often mean fines or penalties. I ensure that your affairs are always tax compliant.
Once I have registered you as a self-employed writer (or artiste) you will have an obligation to submit Tax Returns each year until you de-register. That said, you may already have such an obligation. This may have arisen because
You are already self-employed (in another capacity) or in a partnership
You are a company director
You have substantial savings or investment income
As you have untaxed savings or investment income
Your own land or property from which you receive rental income
Your household receives child benefit and you have income in excess of £50,000
You have sold or given an out of the way (e.g. a holiday home or shares
You have worked abroad or are not domiciled in the UK
I am a registered HMRC Tax Agent. If you choose to appoint me as your tax advisor, which you can do by signing — physically or digitally — a form 64-8, which I will complete and provide to you. On receipt of the form, HMRC will permit me access to your tax records and allow me to act on your behalf in respect of all tax related matters. Indeed they will copy to me all correspondence and tax documentation they send to you.
Once appointed I will ensure that your tax affairs are up to date and if there are any matters outstanding I will attend to them. If you have principally been an employed individual under the PAYE system there are usually no matters of concern at this stage.
I will ensure that you are properly registered with HMRC as a self-employed writer (or artiste). You will receive a unique tax reference number (UTR) on registration and this will be used on your future Tax Returns and all correspondence with HMRC.
I will prepare your 2022 Tax Return, and probably 2021 as well to maximise the tax relief in the event of tax losses. These Returns will be sent to you for approval and agreement, prior to submission. I will also send you your related tax computations and my calculations of the tax repayment you should enjoy.