Personal Tax Services
Ensuring your finances are in order should be a priority for each individual. HMRC have made tax very complicated over the past few years. There are different tax rates for different types of income and often a choice of allowances for different income sources. The constant stream of changes in the legislation means returns are becoming more complex.
This is where we can help. As well as saving you the time and hassle involved with completing the return, we can also help you to understand the outcome: The services we offer are, but not limited to:-
Self-Assessment Income Tax
Every individual under self assessment must complete a Self Assessment tax return and file it with HMRC, usually by 31st January. Failure to do so will result in an automatic £100 penalty issued by HMRC. We will prepare your tax computations, and give you a full explanation of the refund or payment(s) that are due, in language you can understand. We will also file your tax return electronically with HMRC on your behalf.
Tax Planning
We are here for you to discuss your plans and ideas with us before you make any changes to your personal assets and circumstances. We will advise you on the tax implications and help you with a plan that achieves your objective, but keeps your tax charge as low as possible.
Capital Gains Tax
CGT is due on the disposal of most investments, assets and property other than your private residence. This will include any business that you sell your interest in. We can discuss this with you and help you to plan for your tax liabilities.
There is now a requirement to submit a return and pay any Capital Gains Tax due for a sale of residential property within 60 days of completion. We offer a complete service in this area.
Non Residents
We help our non-resident clients to file their tax returns with HMRC. We can also assist in determining residency for tax purposes using the HMRC statutory residence tests.
