Personal Taxation

We can provide detailed advice on all aspects of taxation; to help ensure you comply with regulations and that over-payments are not made. 

Personal tax is paid on money earned from your income, savings and on your pension.

Personal tax returns are completed by everyone that earns money through any means other than PAYE (and sometimes even then too!).  The rules can be complicated, and I'm sure everyone you speak to will agree that the HMRC website can feel like a minefield, with what feels like 1542 steps just to log into your personal Gateway!

We can complete all aspects of a personal tax return and advise you on any additional requirements; confirm how much you owe and when; advise how best to draw money from your limited company for optimal tax efficiency; help appeal any penalties if applicable*; and register and deregister for self-employment and/or self-assessment, amongst other things.

The sooner we receive the relevant information for your tax return, the sooner we can advise on how much you owe; this gives you time to pay in instalments or save the right amount of money to pay in a lump sum before the deadline.  If you also have a PAYE job, as long as we have the relevant information and submit your self-assessment before 31st December (a month before the normal deadline), we can request that any additional tax due be included in your PAYE code for the next year.

*We cannot guarantee the success of any appeal, but we can help give you your best chance by asking the right questions and working out whether your situation constitutes a ‘reasonable excuse’ as far as HMRC are concerned.

Property Taxation and other Capital Gains:

Whether you own properties personally or have incorporated a company that owns them while you manage the business, we can help ensure your properties are taxed and valued properly.   

We can help with taxes on gifts; transfers between spouses; support solicitors dealing with inheritance tax; and ensure you get the reliefs you’re entitled to on sale and/or rental.  

Neon Numbers Ellie greeting client

This is not unique to properties; if you have valuables you wish to sell and think you may make a significant profit, we can advise on the best dates to do this to ensure you make the most of your annual Capital Gains Allowance. 

This is inclusive of Cryptocurrency which is quickly becoming a confusing topic for many people.  If you hold Bitcoin or any other form of Cryptocurrency and are trading them for profit, we can help you determine whether you are liable to Capital Gains Tax or not. 

Rules have recently changed with regard to how capital gains on property sales should be reported to HMRC.  We are versed in MTDCGT and are able to assist in completing the CGT return that is now required within 30 days of sale.

Foreign Income

We are able to answer queries in relation to whether your foreign income is taxable and whether you need to complete a UK tax return.   

This can be a very complex topic as it is dependent on a significant number of variables such as: the amount of time spent in the UK (during the tax year and during the last 9-14 years); where the money was earned; and whether you have ties to the UK such as family or a permanent residence, amongst other things.  These questions also have to be answered in a certain order, just to make things more complicated!

Tax Planning

People want tax planning advice for a variety of reasons such as sale of assets; predicted higher-rate earnings; and inheritance.  The ultimate goal of all of these is to reduce the overall tax someone has to pay over their lifetime (or reduce the amount they have to pay now); we can help with this, whatever your aim is.

Learn more about our Personal Taxation services