Individuals

Personal Tax


Ensure your personal tax return is accurately prepared and submitted on time.

As a personal tax return client you will also benefit from our pro-active approach. We’ll look for opportunities for you to save you tax as standard.

When new budgets are released by the Chancellor, you can trust to have you in mind and quickly let you know how any changes in the tax system will affect you so that you can make decisions before any such changes take effect.

There are a number of reasons why you may need to submit a personal income tax return including:

  • You have self-employment income;
  • You received more than £2,500 in untaxed income;
  • Your savings or investment income was more than £10,000;
  • You made a profit selling capital assets such as shares, a second property etc;
  • You have been a company director at any point during the tax year;
  • Either you or your partner received income of more than £50,000 and either of you received child benefit during the tax year;
  • You have received taxable income from abroad;
  • You lived abroad and have income from the UK;
  • Your income during the tax year was more than £100,000

There are other reasons why you would need to complete a personal tax return and the above list should not be seen as comprehensive but if you are in doubt whether you are required to submit a tax return, please contact us to discuss your circumstances.

We provide a number of personal tax services including:

  • Preparation and submission of self-assessment tax returns;
  • Income Tax Planning;
  • Capital Gains Tax Planning;
  • Inheritance Tax Planning
  • Checking HMRC demands, and more

Rental property accounts and Tax


If you have a separate rental property or if you rent out a part of your home, you may need to complete a personal tax return.

With sweeping changes to the way rental property profits are calculated being introduced by the summer 2015 chancellor’s budget, investing in buy to let properties has become a less attractive proposition for many.

If you have a property that you’re renting out, contact us to find out how these changes will affect you and what your options are.

We can help to:

  • Prepare your rental accounts;
  • Prepare your personal tax return;
  • Ensure you claim all of the expenses you’re entitled to claim;
  • Ensure you are aware of how changes in tax legislation will affect you;
  • Ensure you are aware of potential capital gains tax liabilities within your rental property; and
  • Ensure you are aware of what you can do to mitigate those capital gains tax liabilities.

You’ll gain peace of mind from a competitive fixed fee, agreed in advance.


Capital Gains Tax Planning and Advice


The taxation of capital gains can be a complex area with several possible reliefs to either defer, reduce or eliminate capital gains tax for you. By consulting with us before you enter into a transaction to dispose of an asset we can help you ensure that you’re fully aware of the possible reliefs available to you from restructuring ownership of the asset to maximising your claims for eligible deductions.

Whether you’re considering disposing of a business, property or shares talking to us early is the key to keeping your planning options open and ensuring you are aware of your capital gains tax exposure to avoid any unwelcome surprises.


 

Inheritance Tax Planning and Advice


We can help you identify your exposure to inheritance tax and assist you with inheritance tax planning to ensure your family, friends and other beneficiaries retain as much of your wealth as possible.

 


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