Smith Accountants

Under self-assessment an individual is responsible for ensuring that their tax liability is calculated and any tax owing is paid on time. We summarise the rules and penalties for failing to comply with your obligations.

 

Under the self-assessment regime an individual is responsible for ensuring that their tax liability is calculated and any tax owing is paid on time.

​

Areas included are;

The self-assessment cycle

Penalties

Calculating the tax liability

Amendments to the tax return

Enquiries

Keeping records

Records required for HMRC enquiry - Employees and Directors

Records required for HMRC enquiry - Business

​