Tax Compliance Service

Ensuring compliance every step of the way.


Financial Employee

Outsourced Tax Compliance

TRUSTED COMPLIANT AFFORDABLE

Whether you are a multi-national corporation or a business that operates in one country, keeping up to date with the ever-changing taxation legislation can be difficult and costly.

That is why many companies choose to outsource their tax compliance to expert accountants who specialise in taxation compliance.

Our tax compliance experts can do the hard work for you saving you and your business time and money.

Tax Reporting and Compliance


Our expert taxation compliancy accountants can support your business with a complete range of reporting and tax compliance services.

We can support our clients through their annual accounting process, providing provisional calculations which help them to anticipate and plan for any liabilities.

We can assist you by planning compliance cycles and give you tax packs to ensure a smooth collection of data which will help you to avoid any delays or any errors that are made due to time pressure.

However your systems operate, we will work with them and you to make sure that the processes are efficient and integrated to make certain that you meet all of your tax filing deadline.

Our tax compliance accountants will also provide ongoing support to support you in any challenges that arise.

We provide our clients with bespoke services, depending on their needs and which jurisdictions that they operate.

Some of the services we provide are as follows:

  • UK, IFRS, and GAAP Tax Accounting.
  • Ensuring your business is tax compliant.
  • Advice and assistance to moving to quarterly payments.
  • Tax reporting in the event you make new acquisitions.

We provide bespoke, or a fully outsourced tax compliance service.

To see how we can legitimately save you and your company money get in touch.

Why should I outsource my tax compliance and reporting?


Whether you run a company that operates in one jurisdiction, or a multi-national corporation, the fact is that tax legislation is ever changing.

Around the world, governments are co-operating to set up new anti-tax avoidance laws to make sure that tax authorities will receive part of the revenue that is generated within their jurisdictions in the form of taxes.

Due to these changes in house tax departments are dealing with complex reporting requirements that differ in each jurisdiction they operate.

This has increased the time that they are spending on compliance work; which is time that could be used strategically planning and adding more value to their businesses.

An ever-increasing number of multi-national corporations are outsourcing their tax compliance and reporting work for various reasons including the cost-effectiveness of the services provided, increasing the productivity of their own workforce, reducing their operating costs, shared risks, increasing efficiency and savings made from not running an in house tax compliance department.

Some of the benefits of outsourcing your tax compliance and reporting include:

Increasing the focus on high value and strategic activities

Improving accuracy, timing, and control of tax functions

Expert tax compliance accountants in different jurisdictions

There are many reasons why a company may choose to outsource their tax compliance and reporting to a third party.

Some of these are as follows:

  • Some see it as a business model that will change the industries they work in.
  • It is seen by some as a way to improve competitiveness by improving their outdated office practices.
  • For a few, it is seen as a way to downsize their workforce.
  • It is a way to free up expensive professionals that work for your organisation allowing them to focus on value.

Outsourcing your tax compliance means that your professionals within your organisation can focus on more strategic considerations.

Co-ordination Across International and National Tax Jurisdictions


Many companies are endeavoring to get greater efficiency within their tax departments by outsourcing functions such as tax and sales compliance, expatriate tax returns and corporate tax returns.

There are benefits to outsourcing your tax and sales compliance when your business expands into new states, or if you have large sales and tax obligations, or move into a new state that imposes a tax at both the local and national level.

If your company has global operations the preparation of your corporate tax returns can be complex, challenging and very time-consuming.

It will require coordination and sharing of data and tax information among different offices that operate in various states, this will require the in house tax team to be working full time on tasks such as data gathering and entry, as well as accounts reconciliation.

By outsourcing your tax compliance your in house tax team can devote it's time to business strategies, ultimately adding value to your corporate tax department.

For businesses; what to consider before you outsource your tax compliance.

There are many good reasons for outsourcing your payroll, yet before you do, consider some of the following.

  1. Is there a large turnover of staff in your companies tax department?
    If so, you will need to consider the reason why.
    Are your employees working every hour of the day without a work balance?
    Would outsourcing solve this problem?
  2. If your tax department is focussed on tax compliance, and not on improving growth, driving margins and supporting the business, you may want to outsource your tax compliance.
    This will enable your tax department to spend its time and energy on supporting the growth of your business.
  3. What can be automated? Would outsourcing or automating part of the process save you time and money?
    The answer is usually yes, and outsourcing makes it easier as they have already paid for the software to automate the service.

Our Tax Compliance Service


Every business is different and has different needs, that is why our expert tax compliance accountants provide bespoke services to match your companies requirements.

We offer full or partly managed tax compliance and reporting services which can include the following.

Expertise & knowledge

Our outsourced, bespoke tax compliance services can span the whole of your company, from partners to staff. From overall business strategy and governance to individual review and matter management.

Experience & know how

We value our clients and their businesses. So you will find our team approachable and reliable as they will work to protect and grow your business as if it were their own.

Our bespoke tax compliance service


By fully outsourcing your tax compliance to our experts will use state of the art technology to ensure you are compliant with each jurisdiction within which you operate taxation laws.

We provide a full range of compliance and risk management processes.

Our tax compliance experts use systems and technology merge risk with compliance activity to provide a risk-based view to management and monitoring.

Our service also benefits from our professional, who have years of tax compliance and recording knowledge to draw upon when dealing with tax compliance issues.

What our full tax compliance service can consist of


Our tax compliance and recording service works across the whole of your organization, across all partners and staff, and covers overall business strategy and governance, right down to individual matter management.

Our full tax compliance and reporting service can be grouped into the following 5 sections.

1) Analysis of Risk 2) Procedure and Policy 3) Proactive Management 4) Reactive Management 5) Review and Monitoring

Why Choose Us


Compliance and Risk Reporting

A compliance and risk report detailing the companies overall performance, remedial measure and required actions with signposts to best practice. A gap analysis and compliance and risk review benchmarking the company against compliance requirements and quality standards. Allowing you to formulate a plan to ensure that you reach at least the minimum of tax compliance.

Audits

Our tax compliance experts will carry out regular audits. Files will be selected on a risk basis, incorporating department and staff risk profiles. Any corrective actions required will be carried out by our tax compliance teams. Management information, file audit performance, and improvement recommendations will be discussed periodically and solutions provided.


CPD and Training

Training needs for your staff are identified as the need arises, for example from incidents, audits, reviews, performance or queries etc. Training plans will be worked out with you to ensure that your staff is up to date in all tax compliance issues within the jurisdictions that they work. We will be looking for ways to continually add value to your team.

Incident Management

Whatever your position in your company, you will be able to report any incidents to our tax compliance teams, who will be able to investigate, provide oversight and resolve any issues that may arise. If the situation requires that it becomes escalated to higher management before proceeding, our tax compliance teams will still be on hand to provide recommendations, support, and guide you to mitigate impacts.

Whether your company works in one tax jurisdiction or is a multi-national corporation, our tax compliance experts are on hand to help; looking for ways to reduce your business overheads and legitimately save your company money.

Contact us today to see what we can do for you.

Frequently Asked Questions About Tax Compliance


Why should I outsource my tax compliance and reporting?
  • Savings In Cost. By outsourcing your tax compliance and reporting your enable your staff that work in house to focus more higher profitable work adding value to your business. Outsourcing also reduces the cost of hiring staff, their wages and benefits. It means that you won't have to pay the costly subscription fees for taxation software or foot the bill for any administration costs arising from the tax compliance process. This saves you money that you can further invest in your staff, perhaps on training and therefore staff retention. Furthermore, the staff that have stayed can focus on driving the profitability of your business.
  • Capacity. By outsourcing your tax compliance and reporting you can add extra capacity to your business at a minimal cost. This allows your in house staff to focus upon adding value to your business and increasing profitability.
  • Continuity. Businesses can benefit enormously in the long term by outsourcing to the same company. When you outsource to a good partner, your business and its practices can not only perform at its optimum throughout its yearly work cycle, it has the further benefit of being able to plan for future work cycles.
What are the tax regulations?

Tax regulations are to ensure that businesses and individuals are paying the correct amount of tax whether they are operating at home or internationally. International tax regulation agreements are to ensure that tax information is automatically exchanged between countries that have signed up to the agreement. An example of this is Foreign Account Tax Compliance in the USA, known as FATCA, which is part of the US Hire Act 2010.

So that FATCA can be implemented in the UK, the US and UK governments signed and agreed to adhere to the ‘UK-US Agreement to Improve International Tax Compliance and to Implement FATCA’.

The UK government has also signed reciprocal agreements with its crown dependencies, including Gibraltar, Guernsey, Jersey and the Isle of Man to ensure that FATCA is adhered to.

What does tax compliance mean?

Being tax compliant means that you must make your tax payments and produce and submit your information to your tax authorities in the correct format and on time.

What is a tax compliance check?

A compliance check by HMRC is an investigation into the tax affairs of a person or company.

The purpose of a compliance check is to ensure that a tax return is correct, d/o to ensure that a company or person is paying the right amount of tax and is making payments at the right time.

How long does a tax investigation take?

The time a tax investigation can take will vary depending on the variables involved.

For a single aspect of a compliance check, it can take anywhere from between 3 to 6 months, whereas a full investigation can take up to 16 months.

How far back can an investigation go?

Normally, the time limit for an HMRC tax investigation is 4 years.

However, in the event that someone has been visibly careless, submitting tax returns with errors, HMRC has been known to go back as far as 6 years.

What is a compliance check by HMRC?

If your employee become ill and is unable to work, they may become eligible for SSP (Statutory Sick Pay) which is currently set at £92.05 per week for a maximum of 28 weeks.

However, your organisations sick pay scheme may offer more, it is illegal to offer less.

Company sick pay schemes are also refereed to 'occupational' or 'contractual' sick pay and must be included in the employment contract.

Can the taxman check my bank accounts?

Ultimately, yes they can.

Banks and financial institutions are required by law to report any interest paid on savings, investments or into your bank accounts.

The 'taxman', or HMRC, can check that your disclosed expenses match with the electronic reds of our bank accounts.

How long can HMRC keep an Enquiry open?

Normally, HMRC has 1 month from the date that you filed your tax return to make sure it notifies you that it will be launching an inquiry.

However, if you have filed your tax return after the deadline of the 31 January, HMRC can take 15 months from the date which you filed your tax return to launch the inquiry.

Can you go to jail for tax evasion in the UK?

Yes. For income tax evasion the summary conviction is 6 months in jail, or you may get a fine of up to £5,000.

The maximum sentence for tax evasion is 7 years in prison, there is no upper limit for a fine for tax evasion.

Can HMRC go back 20 years?

Yes, if HMRC suspects that you have been deliberately avoiding tax they can go as far back as 20 years.

If they believe that you have been careless with your tax returns they can go back 6 years, in the event that they believe that any errors are innocent they can go back 4 years.

How long do I keep my tax record UK?

5 years after the January deadline for the relevant tax year. For example, if your 2017 to 2018 tax return was submitted online by January 31 2019, you must keep your records until the end of January 2024.