Barnard Castle Phone: 01833 630400 Shotley Bridge Phone: 01207 507000

Tax Checklist

2013/14
Tax Busting Checklist

(Updated 27 March 2013)

This is our tax checklist – have a look through it and see what relates to you? There may be matters on the checklist that you can benefit from and had not realised. Not everything will apply to you but it will make you think about all your tax affairs and what could work better for you. The checklist may help you to reduce tax on either a personal or business level. Once you have had a look at the list then it may be worthwhile contacting us here at the office to discuss your own circumstances and requirements.

If you would like to download the PDF version of this checklist to fill in, please click on this link:

Download Tax Checklist

Administration

    Has your Accountant mentioned this?
95 If you want the Taxman to calculate your tax bill each year make sure you send in your tax return before 31st October for a paper return or file it online by 31st January, when the computer programme calculates your tax automatically. Yes No N/A
96 If you want the Taxman to collect the tax you owe through your PAYE code, and hence give yourself longer to pay, you need to submit your tax return online by 30th December or in paper form by 31st October. The Taxman will agree only collect up to £3,000 of tax owing in this fashion. Yes No N/A
97 If your taxable income decreases so that your tax bill is going to decrease you can apply to reduce your income tax payments on account which are due on 31st January in the tax year, and 31st July after the end of the tax year. Yes No N/A
98 Make sure you keep complete and accurate business records. Good records can reduce the risk of paying extra tax and penalties if you are subject to a tax enquiry. Yes No N/A
99 If you receive any queries from the Taxman either in writing, or by telephone, or during a visit to your premises, make sure you consult your accountant before answering the Taxman’s questions. You can ask the Taxman to put his queries in writing if you need to research the answer. A wrong or estimated answer can be a very costly mistake. Yes No N/A
100 The Taxman does make mistakes. If you are accused of underpaying any tax, ask your accountant to check the calculations before you agree to pay up. Yes No N/A

 

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Our Offices

  •  

    7 Newgate
    Barnard Castle
    County Durham
    DL12 8NQ

  • Shotley Bridge Office

     

    7 Front Street
    Shotley Bridge
    Consett
    County Durham
    DH8 0HH 

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