Established Edinburgh and Leith accountants looking after over 100 individuals and businesses. Personal service, modern tools.
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A friendly chat to understand your situation and goals.
Accounts, tax, payroll, VAT, whatever you need, done properly.
We're here year round, not just at tax time.
One firm for the whole picture, from a single return to your full set of accounts.
PAYE handled for over 70 years. Payslips, RTI and employee benefits managed on your behalf.
Read MoreOften called the 'voluntary tax'. With proper planning, your exposure can be significantly reduced.
Read MoreThree innovative online accountancy services for easy access to your accounts, tax position and adviser.
Read More'Self Assessment Spoken Here.' Fixed-fee returns completed and submitted since 1996/97, always ahead of HMRC.
Read MoreFrom structure and HMRC registration to Companies House, we guide you step by step from day one.
Read MoreProfessional records to reduce year-end costs, ease VAT compliance and give you real management information.
Read MoreRegistration, returns and MTD compliance, with specialist advice for complex inspections and appeals.
Read MoreAll Companies House filings on time, plus a free mid-year consultation to plan tax, dividends and PAYE.
Read MoreFrom a first self-assessment to a growing company's full accounts, the same personal service, whoever you are.
Plain answers to the tax questions that trip people up. No jargon.
Register within three months of starting self employed work to avoid an automatic £100 penalty.
Once registered, open a separate bank account to keep your self employed income and expenses away from your PAYE earnings and day to day banking. This makes record keeping and any HMRC enquiry far simpler.
Bear in mind that if your PAYE salary already uses up your personal allowance, all of your self employed profit will be taxable. You will need to file annual Self Assessment returns disclosing both income sources, though in some cases the extra tax can be collected through an adjusted PAYE tax code rather than a lump sum bill. We can advise on which route suits your situation.
Not necessarily. Before paying anything, you need to establish exactly how the underpayment arose and why HMRC allowed it to continue year after year.
If HMRC held the information needed to prevent the underpayment but failed to act on it, they may be required to reduce or write off the amount under their official Extra-Statutory Concession A19. This applies when HMRC's own delay or error caused you to believe your tax affairs were in order.
Challenging these demands does require paperwork, ideally the relevant P60s, pension statements and any correspondence from those years. If you have kept that paperwork, we can review your position for a fixed fee and advise whether you have a valid case.
HMRC expects contemporaneous records, meaning figures captured in real time, not reconstructed from memory at year end.
In practice that means a daily log of takings and expenses (fuel, fares, repairs, insurance etc.), backed up by a weekly or monthly summary. A simple spreadsheet is perfectly acceptable as long as it is kept consistently. Receipts and bank statements should support every figure.
Well kept records significantly reduce the risk of an enquiry. If one does arise, they are your primary evidence that the income and expenses on your return are accurate.
Have a question that isn't answered here? Get in touch, we're happy to help.
Have a chat with a real accountant. No jargon, no pressure.