Written by Director, Huw Moseley:
Now, I know the subject line for my blog this week is controversial. Like or loathe tax, we have to pay it because it keeps the country running. Which means somebody has to administrate it.
But oftentimes, the administration leaves a lot to be desired.
Just this week, my wife received a self-assessment tax calculation letter with amended figures stating that she owes more tax. As you might expect, I know for a fact that this is incorrect, dealt directly with HMRC on her behalf, and got it sorted.
But it got me thinking, how many people simply pay when they receive a letter like that?
Recently, a new client told me that he had done just that: paying over £1800 in penalties and interest for not submitting a tax return when told he should have done.
He paid the fines at great cost to his business, thinking that “HMRC must be correct – I owe them money”.
Thankfully when he came on board with Link Accounting, he mentioned it and I swiftly appealed the HMRC decision (as it’s contrary to case law). The penalty was overturned and all of the client’s money returned.
This is why it’s imperative that if you’re managing your accounts, you have a good grip on how much tax you owe and when it’s due. And if you’re struggling to make your case with the HMRC demanding payment that you don’t believe you owe, here at Link Accounting, the team will review your accounts and (assuming it’s not an error in your books), we can take this up with HMRC for you.
So far my personal track record with resolving disputes with HMRC in our clients’ favour is one I’m very proud of!