UUÂãÁÄÖ±²¥

Duties of an SAO


Produced by Tolley in association with
Corporation Tax
Guidance

Duties of an SAO


Produced by Tolley in association with
Corporation Tax
Guidance
imgtext

Duties of an SAO ― introduction

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

Access this article and thousands of others like it
free for 7 days with a trial of Tolley+™ Guidance.

TAKE A FREE TRIAL
Philip Rutherford
Philip Rutherford

Senior Tax Director at Molson Coors Brewing Company

Phil is the Senior Tax Director for Molson Coors' European operations. He has responsibility for both direct and indirect taxes across both EU and non-EU states. Prior to this, Phil was responsible for Molson Coors UK tax affairs covering all major taxes and duties.   Phil trained at KPMG LLP, where he worked for 8 years, specialising in tax investigations across both direct and indirect tax.

Powered by
  • 15 May 2024 10:51

Home/ Tolley Tax Guidance/ Corporation Tax / Risk management and governance

Popular Articles

Corporation Tax

Associated companies ― from 1 April 2023

Associated companies ― from 1 April 2023Implications of associated companiesFrom 1 April 2023, the rate of corporation tax that a company is subject to depends on the level of its augmented profits. The rate of tax is based on a comparison of the company’s augmented profits against the corporation

22 Mar 2021 10:21 | Produced by Tolley Read more Read more
Personal Tax

Payment of tax due under self assessment

Payment of tax due under self assessmentNormal due dateIndividuals are usually required to pay any outstanding income tax, Class 2 and Class 4 national insurance, and capital gains tax due for the tax year by 31 January following the end of the tax year (ie 31 January 2025 for the 2023/24 tax year).

14 Jul 2020 12:52 | Produced by Tolley Read more Read more
Personal Tax

Gilts

Gilts‘Gilts’ are securities that are also known by a number of different names (eg gilt-edged securities, Government securities or treasury stock).The Government sells gilts to fund the deficit between public spending and tax receipts. Normally, the Government pays interest to the holder of the gilt

14 Jul 2020 11:48 | Produced by Tolley Read more Read more