Personal TaxCompliance

Comprehensive personal tax compliance services, from straightforward Self-Assessment tax returns to more complex tax affairs.

Your Personal Tax Compliance obligations

Individuals who meet the criteria for Self-Assessment in the UK are responsible for calculating their own tax liability and submitting an annual tax return to HMRC. As a Self-Assessment taxpayer in the UK, your obligations include:

  • Ensuring you are registered with HMRC as a Self-Assessment taxpayer
  • Completing your tax returns on time and in full
  • Paying any taxes owed by the annual deadline
  • Keeping and maintaining accurate income and expense records
  • Notifying HMRC of any changes to your circumstances that may change your tax liability (such as a change of income, marital status, or address)

There may be additional tax compliance obligations for individuals with more complex tax affairs, such as those who earn income from multiple sources or have overseas assets.

Why it’s important to get your Self-Assessment right

It is essential to ensure you are fully compliant with your personal tax obligations, and that your Self-Assessment tax return is accurate and submitted on time.

HMRC may investigate an individual’s tax returns for a variety of reasons, including suspicion of tax evasion or fraud, errors in the tax return, or information received from third parties. Furthermore, it can often be completely random with no suspicion of errors or wrongdoing.

HMRC penalties

Depending on the severity of any issues or errors identified in a Self-Assessment tax return, HMRC may issue a variety of penalties. These penalties can include lump sums, a percentage of the tax owed (plus interest) and, in more severe cases, potential criminal prosecution.

This is why it is important to consult with a qualified personal tax compliance specialist if you are in any way uncertain about your Self-Assessment tax return.

How our Personal Tax Compliance team can help

The Personal Tax Compliance department at Shorts comprises of highly qualified individuals, several of whom have worked at Shorts for many years. This allows us to offer both continuity of service and detailed knowledge and understanding of the personal tax circumstances of all our clients.

With Shorts, you can be confident that if you provide us with all the information required for your return, we will do the rest.

By helping you complete all personal tax returns and obligations as soon as possible, we are able to explore further exciting tax planning opportunities that you may have.

We provide a comprehensive service for clients, from straightforward returns to those with more complex tax affairs. You should always engage with advisers you can trust, and the Shorts team is dedicated to building that trust by providing industry-leading advice and services.

The Shorts Tax Investigation Service

Tax investigations conducted by HMRC can be disruptive, intrusive, and costly, and can continue for long periods of time and in some cases more than a year, causing stress and accumulating expenses. This can happen even if there are no mistakes and no signs of wrongdoing.

For a small annual fee, our Tax Investigation Service can protect you by handling all communication with HMRC, simplifying the complex questions they may ask. We will also aid you in submitting any necessary information and reducing any negative impact on your personal or business life.

Moreover, our partnership with Professional Fee Protection means that our expenses incurred while defending you against HMRC will typically be covered up to £100k, without any additional charge to you.

Meet the team

The Personal Tax Compliance team at Shorts are dedicated and qualified specialists, with a wealth of experience advising clients of varying backgrounds and situations. We encourage you to get in touch below if you require any assistance or advice.