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Looking for accountant

Looking for accountant practised at dealing with HMRC self assessment and interest/penalties

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I work in the UK to Australia pension transfer area, advising on transfer plans and their tax implications both in the UK and Australia (I practice in both jurisdictions).

I have been asked by a pension administrator in Australia to recommend a UK accountant who can assist their Australian tax resident clients who have, probably without realising it, incurred the unauthorised payments charge of 40% (which is taxed as income tax and therefore subject to self-assessment and interest and Schedule 41 penalties). 

The charge has arisen because they have used UK pension money transferred to the Australian superannuation regime to purchase taxable property as an investment (in this case residential property for letting) within their Self Managed Superannuation Funds.  The clients will shortly be notified by the administrator of their UK prospective tax liability and will be advised to seek assistance from a UK accountant practised in this area.  Paperwork to minimise liability might be required (because the investment may have come from mixed funds), liaison with HMRC, and presentation of mitigation.

Many thanks

Replies (4)

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Hallerud at Easter
By DJKL
29th Oct 2019 10:20

G'day

Sorry cannot answer / respond re what you seek but do really like the fact that the timing of your post, 14:46 is later than the current time here which is 10:20, not a thing you see on here every day.

Anyway good luck with your search.

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Replying to DJKL:
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By Tax Dragon
29th Oct 2019 15:54

It's a great way of keeping your post on top of the pile all day :-)

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By Ultra
29th Oct 2019 10:31

Melissa at MD Advisory may be able to help you. http://www.mdadvisory.co.uk/
01162866061

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Jeremy Gordon, DirectDocs
By Jeremy Gordon
03rd Nov 2019 05:24

Thanks everybody for your replies. I got a couple of PMs too.
Perhaps I should have mentioned that since none of the taxpayers will have been required to file a personal tax return with HMRC in the year when the unauthorised payment occurred, it is possible there is a Monaghan [2018] UKFTT 0156 (TC) type issue arising (in the particular circumstances of the taxpayer in that appeal, it turned out that there was no obligation to report the unauthorised payment under section 7 of the TMA 1970). Does anyone know what happened to HMRC's appeal to the upper tribunal in Monaghan?

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