The System at a Glance
Introduction
- This is our approach to all articles.
- The SATR System is outlined below.
- This is divided into key stages.
- The flow needs to be followed in the chronological order.
Stage1: Setup
- AML and KYC to be done before dialogue.
- Legal, Professional and Statutory requirement.
- Telegram Setup – GDPR compliant
Stage 2: Assessment
- The SATR Checklist must be completed by the Client.
- This enables Avar to assess your requirements and level of service.
- Upon which the cost quotation is based on.
Stage 3: Quotation
- Two types of Quotation:
- Basic Pack
- Premium Pack
- Basic Package
- The Basic Package is an “Execution Only” Service.
- This is to be paid in a one off annual payment by Credit Card, before the work is carried out.
- Annual Fee Structure where is your annual income is, and is subject to timing the tax returns:
- All prices are subject to Value Added Tax, at the prevailing rate (currently 20%)
- Less than £50K – £50
- Less than £100K – £100
- More than £100K – £150
- More than £200K – £250
- Preparation of Residential Property Accounts is optional.
- A Boomerang will be provided for each property, with up to 50 transactions per property.
- Online training will be available.
- This will have to be completed by the Client.
- It will be finalised by Avar for Clients approval.
- Cost will be £150 per property with a maximum of £500 for 5 properties.
- As is the Capital Gains on disposal.
- Premium Package
- This includes the “Execution” Service as well as:
- Advice and Q&A’s on Telegram.
- TiPS Insurance, subject to terms and conditions.
- Preparation of Residential Property Accounts (maximum of 2 properties)
- This is to be paid in a one off annual payment by Credit Card, before the work is carried out.
- Annual Fee Structure where is your annual income is:
- Less than £50K – £100
- Less than £100K – £200
- More than £100K – £300
- More than £200K – £500
- Additional charge of £100 per property.
- Timing of Returns
- The following rates apply based on the provision of information:
- 30 June 2021 – standard rates
- 30 September 2021 – uplift of 25%
- 31 December 2021 – uplift of 50%
- Information provided after December 2021- uplift of 100%
- These rates uplift only applies to the tax return fee and not the Property Accounts.
- The following rates apply based on the provision of information:
Stage 4: Information
- We will provide you with a transaction recording system called “SATR Boomerang”, with up to 25 transactions per year.
- This needs to be completed in its entirety to enable Avar to commence work.
- A Property Boomerang will be provided as above, where agreed and required, in accordance to your service level package.
- The Boomerang should include all details for the tax year, which may include the following:
- Employment Income (as per P60)
- Self-Employment (subject to completing the Sole Trader Boomerang)
- Pension Income
- Partnership Income
- Dividends (from sources other than where Avar are accountants for the Limited Company)
- Bank Interest
- Income from Land and Property (subject to completing the Property Boomerang)
- Other Income
- Trusts
- Capital Gains/Losses
- Child Benefit received
- Reliefs (i.e. pension contributions or charitable donations)
Stage 5: Review
- Avar review SATR Boomerang.
- Finalise any queries, if any.
- Prepare Draft SATR and Tax Computations.
Stage 6: Approval
- Draft SATR and Computations sent to Client.
- Approval Form and Payment Notification sent to Client.
Stage 7: Finalisation
- Only when Approval Form is received, Avar File the SATR.
- Notification is sent to the Client.
Stage 8: Closure & Final Reports
- All reports will be provided as Read-only.
- In PDF or Excel format.
- Sample reports can be viewed here.
Useful Link(s)
Frequently Asked Questions
Form
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