Why use the internet service (FBI)?
The advantages are that the paper form you sign is retained by you or on my file and an electronic copy is submitted direct to the HMRC computer system. This is quicker and will avoid "keying in" mistakes by HMRC staff. The acceptance time is reduced from up to two months to under 1 hour and the filing date is extended!

Is it necessary to send documents to the Revenue?
Your business records are not sent to the Revenue with each tax Return, but these can be called for if an enquiry is opened by the Inspector. Original tax vouchers and certificates are not submitted with repayment claims although these must be retained.

Should my payroll be computer based?
Electronic submission of PAYE forms is now mandatory.

What is the current IHT exemption?
This stands at £325,000 (the estate nil-rate band from 06/04/2009)

Can I make gifts without incurring IHT?
Yes, up to £3,000 a year in total or of £250 to any number of individuals. Parents can each give £5,000 to a child on marriage.

If you find that your question is not answered please e-mail: ceb@colinboon.co.uk
 or telephone on 01983 246766 (out of hours answer machine).