Why We Are Requesting Your Records Earlier This Year

You may have noticed that we have been in touch earlier than usual to request your financial records for this year’s accounts and tax return season. We want to take a moment to explain why this change is necessary and how it benefits you.

The primary reason for earlier contact this year relates to the changes introduced by HMRC to the basis period rules for taxation. These reforms, which affect how business profits are allocated to tax years, have significantly increased the complexity of tax reporting for many clients, particularly sole traders and partnerships. As a result, the volume of work and the time required to complete accounts and tax returns has increased. To ensure we continue to deliver the high standard of service you expect from GWA, and to avoid any last-minute rush or potential penalties for late submissions, we are adjusting our internal workflow schedules accordingly.

By receiving your records earlier, we can:

• secure a place in the workflow schedule for your work;
• allocate sufficient time to review and process your information accurately.
• address any queries or missing information well in advance of deadlines; and
• ensure timely and accurate filing with HMRC.

We appreciate your cooperation and understanding as we manage these changes. If you have any questions please get in touch with your usual contact within GWA.

Thank you for your continued support during this busy period.