HICKESON BOYCE
Chartered Certified Accountants
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HICKESON BOYCE Chartered Certified Accountants
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Self Assessment lacks the flexibility of the previous regimes used to administer tax with a consequence that many individuals whose affairs have always been in order and kept up to date may now be penalised heavily for any mistakes or errors that they make on their returns. It is not until the Revenue commence an enquiry or an investigation into a return that the taxpayer will know whether any mistakes have been made in its preparation. It is also worth noting that in a significant number of cases errors have occurred in the processing of returns, even though the return may have been correctly prepared, which has resulted in an apparent tax liability in excess of the one that should be due. It is therefore important to consider obtaining professional advice as not only can it save you significant sums, but should also provide the peace of mind that the return has been correctly dealt with. Self Assessment applies to certain individuals, all partnerships and all companies.
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