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Professional accountants serving the UK and helping small businesses to grow!

Whether you are an expanding company or just starting up, KAMP Accountants is here to help.

With extensive experience working with large and small clients throughout the UK, we support large and small business in a broad range of business sectors with all their accountancy requirements.

HMRC are Communicating about Self-Assessment

Newsletter issue - November 2023

In October, we wrote about the Self-Assessment registration deadline (the 5th). Hot on the heels of this, you may receive communication in the following weeks or months from HMRC about the requirement to complete a Self-Assessment tax return. The thing that stands out from the communication is HMRC's use of the phrase 'You don't need to be an expert to do your tax return'. This massively simplifies an annual process that can be very complicated and time-consuming. That is why there are experts and we strongly advise you contact us. Getting your tax return wrong can be costly.

HMRC's planned communication will take place from 24 October 2023 until mid-January 2024. It focuses on the following key topics:

  1. How Do I Fill in my Online Tax Return?
  2. Do I Need to Fill in a Tax Return?
  3. What Happens if I Can't Pay the Tax Bill?, and
  4. How Do I Check How Much Tax I Owe?

The 2nd topic is probably the most important. Not everyone needs to fill in a tax return and HMRC point to their 'check if you need to complete a tax return' tool. This tool will say whether you must register and then, if you do, give you the advice that the registration deadline for 2022/23 tax returns was 05 October 2023 and if you hadn't registered you could be fined.

It is very important to know that if you have registered, HMRC will expect a tax return. If they are expecting one and do not receive one then you can also be fined for that. So, if you don't have to complete one, you must let HMRC know when there is no longer an obligation to complete one.

In current times, it is also worth looking at point 3 which considers tax due but cannot be paid. There are two options here:

We advise you to take any communication from HMRC seriously, as the opportunities for penalties in this area are wide.

Fees for non-recurrent services would be based on time involved and would be agreed before we start work on given task.

  • Accounts and Taxation
  • Accounts prepared on time and presented to you at your premises
  • Income tax calculations and projections
  • Annual superannuation certificates for Partners
  • Practice manager training about bookkeeping
  • 2 - 4 meetings in a year at your premises
  • Personal expenses
  • Payroll
  • SD55 for practice staff
  • Installation and training in respect of practice computerised accounting system
  • Unlimited telephone and email support for adhoc queries

Non - recurrent Services

•VAT advice •Capital gains tax planning •Partnership agreements •Surgeries finances •Pension planning •Budget and cashflow planning •Inheritance Tax planning

Recurrent Annual Services based on fixed fee:

  • Accounts and Taxation
  • Accounts prepared on time and presented to you at your premises
  • Income tax calculations for Principles and Associates
  • Practice manager training about bookkeeping
  • 2-4 meetings in a year at your premises
  • Personal expenses
  • Payroll
  • SD55 for practice staff
  • Installation and training in respect of practice computerised accounting system
  • Unlimited telephone and email support for adhoc queries

Non - recurrent Services

  • VAT advice
  • Capital gains tax planning
  • Partnership agreements
  • Surgeries finances
  • Pension planning
  • Budget and cashflow planning
  • Inheritance Tax planning

Fees for non-recurrent services would be based on time involved and would be agreed before we start work on given task.

Medical Practices

Our specialist team provides a wide range of accounting and business services to General Practice.

Recurrent Annual Services based on fixed fee:

Dental Surgeries

Fees for non-recurrent services would be based on time involved and would be agreed before we start work on given task.

Recurrent Annual Services based on fixed fee: