Personal Taxation
Our work in this area includes income tax calculations and advice on when these are due, self assessment completion and submission plus Capital Gains Tax.
Income Tax
We can offer you personal tax reviews to optimise your income tax position and ensure you meet all the compliance requirements. With the tax regime becoming more complex and more emphasis being put on taxpayers’ individual responsibilities, everyone who is subject to taxation needs professional advice and support. Every pound of income tax you save means more income at your disposal. Our integrated personal tax services include:
- Providing year round tax advice.
- Considering pre tax year end actions .
- Discussing your personal tax calculations with you.
- Advising on paying or reducing payments on account.
- Liaising with HMRC on your behalf in the event of an enquiry.
We will also be available to advise on issues such as:
- How best to handle benefits such as company cars and accommodation.
- Whether director shareholders should be paid by salary and /or dividend.
Self Assessment
This is the name given by HMRC to you for completing your annual tax return. This can be a time consuming and often confusing business for busy individuals. And judging by those who are penalised by HMRC each year, it can also be very costly if deadlines are missed, incorrect returns are submitted and appropriate records are not retained or presented. We aim to free up your valuable time by offering a comprehensive Individual Self Assessment service, including:
- Calculating your tax liability.
- Completing and filing your tax return on your behalf.
- Advising you when various payments are due and how much to pay.
- Advising on appropriate record retention.
- Introducing you to any relevant tax saving ideas.
- Representing you in the event of your being selected for investigation by HMRC.
- Liaising with your bank, building society, stockbrokers etc to gather the relevant data for your annual returns.
Capital Gains Tax
The reliefs and savings that are available for Capital Gains Tax are onerous to calculate but can be substantial. They save considerable amounts of tax and well planned disposal of assets means a reduction in capital gains. We have dealt with many entrepreneurs who are looking to, or have sold their businesses, to ensure their capital gains are minimised. We can ensure that your Capital Gains:
- Are calculated correctly.
- Take into account all available reliefs.
- Well managed in terms of filing with HMRC.
- Planned for, where potential gains are known about in advance.
