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Abdul Hafeez & Co. Chartered Accountants

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Tax

Income Tax

Corporate and individual income tax — returns prepared from records that support them, and representation when a notice arrives.

  • Private limited companies
  • Owner-managed businesses
  • Directors and individuals
  • Businesses with withholding obligations
  • Companies under audit or appeal

What we are usually called about

The questions this work arrives with

None of these is unusual and none of them is a failing. They are what happens when a business grows faster than the records, the systems and the filings that describe it.

A notice with a date on it

Most income tax work starts here. What matters first is what is actually being asked, what the file already supports, and what still has to be produced.

Returns nobody can reproduce

A return that does not tie back to the ledger is difficult to defend later, and whoever prepared it has usually moved on by the time it is questioned.

Withholding obligations

Amounts a business is required to deduct and deposit on somebody else's account, and the statements that follow from them. It is compliance work that sits with the payer, not the payee.

Audit as a reconciliation exercise

Selection for audit usually becomes a reconciliation between the return, the financial statements and the tax deducted at source — three records that were never built to agree.

Appeals

An assessment that is disagreed with has a route, and that route carries its own record requirements and its own timing. Both are worth understanding before an assessment arrives.

How the work runs

What an engagement looks like

Scope and fees are agreed in advance and in writing, before any of this starts. Where a step turns out not to be needed, it is dropped rather than billed.

  1. 01

    Position review

    Establishing what has been filed, what is outstanding, and what the records currently support.

  2. 02

    Preparation

    Computation and return prepared from the ledger, with the reconciliation kept alongside rather than reconstructed later.

  3. 03

    Filing

    Filing, with the acknowledgements and the working papers retained together on the file.

  4. 04

    Notices and audits

    Reading what has been asked, assembling what supports the position taken, and replying on the record.

  5. 05

    Appeals

    Where a position is maintained, preparing the grounds and appearing at the relevant forum.

Scope

What an engagement can cover

A list of what the work can include, not a package. What is actually needed is settled after the first conversation and written into the engagement letter.

  • Corporate and individual income tax returns
  • Withholding statements and the compliance around them
  • Reconciliation of returns to the financial statements
  • Replies to notices and conduct of audit proceedings
  • Appeals and representation before the relevant forum
  • Advance and provisional computations

Who this is for

Where this work usually comes from

Most of this work arrives from one of two sectors. Neither is a requirement — the sectors are where the practice already knows the vocabulary, not a list of who it will act for.

Retail

Chains running an ERP and a point of sale, where stock, margin and every invoice are now reported in real time.

Pharmaceutical

Manufacture and distribution sold through a trade that settles half its margin outside the invoice — in bonus stock, credit terms, discounts and credit notes.

Both are set out in full on the sectors page — what each one is usually called about, and what the practice does across the two.

Alongside this

One practice handles all of it, so nobody is coordinating between a systems consultant, a tax adviser and a bookkeeper.

Tools for this service

Check your filing dates

Answer a few questions about the business and see which FBR filing and payment dates apply to it, with the legal basis and official source for each one.

Open the compliance calendar — Check your filing dates

Work out tax on a salary

Enter a taxable salary and see the estimated income tax for the year, the average monthly figure and the rate it works out at, with the legal basis for each tax year.

Open the salary tax calculator — Work out tax on a salary

Check what to deduct on a payment

Answer a few plain questions about a payment and see the withholding rate to review for it, with the section it comes from and what it applies to.

Open the withholding tax rate finder — Check what to deduct on a payment

See whether the records are ready

Answer a few plain questions about the state of the books and see which records an annual income tax computation still needs before anybody can start preparing it.

Open the income tax readiness checklist — See whether the records are ready

Insights

A notice to answer, or a return that has to be defensible?

You will get a plain answer on whether the practice can help, what it would involve, and what it would cost.

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