It is the personal responsibility of the SAO, and in fact their main duty, to make sure that the company takes reasonable steps (see below) to establish, maintain and monitor the adequacy of their tax accounting arrangements. This is to ensure the production of accurate tax returns and to enable them to provide a certificate to HMRC after the end of the financial year. The SEO must also identify any areas that do not meet the requirements and disclose these failures to HMRC as part of a certification process. See the Introduction to SAO requirements guidance note for more details on the taxes covered by the regime and the relevant administrative provisions.
The SAO must carry out their duties on an on-going basis. As the certificate covers the systems, processes and controls in place throughout the financial year it is not something that can simply be prepared at the end of the financial year. An issue arising on the first day of the year is as important for SAO
SEIS and EIS ― overviewThe seed enterprise investment scheme (SEIS) and enterprise investment scheme (EIS) are very similar schemes which offer substantial tax incentives to investors in companies which qualify. The tax incentives for SEIS and EIS investments are intended to encourage investment in
Foreign self-employmentTrading in another jurisdiction involves many issues, only some of which involve taxation. Advice should be taken, not only in relation to tax but on the wider business implications. For an overview of the points to consider for certain jurisdictions see Tolley's Global
UK VAT invoice requirementsThis guidance note provides details of the information that must be shown on a valid tax invoice. Businesses supplying goods and services that are liable to the standard or reduced rate of VAT are required to issue a tax invoice to another VAT registered person.If the