Personal Tax Services
Keeping your tax affairs organised and efficient, all while navigating an ever-changing system of regulations, can seem an impossible task. That’s where we come in.
Our primary aim is to minimise your tax liability - we do this by getting to know you and understanding your personal requirements.
We’ll help manage your personal taxes, while offering clear advice and explaining anything you’re unsure about along the way. Whether you need assistance with your self assessment tax returns or advice on non-domiciliary taxes, we can help you.
“It was a nightmare trying to sort my Mum’s estate out when she became ill. Paul was so brilliant - not only did he make sure my mum’s assets were protected but he also took the time to get to know us and that meant a lot at a really difficult time. Thanks Paul!”
PERSONAL TAX RETURNS
Whether you are Self Employed, a Company Director, receive rental income, or have other sources of untaxed income, you have a statutory requirement to complete a Self Assessment Tax Return each year.
We aim to make this process as simple as possible for you, by not only assisting you to complete the form each year and calculating your tax position, but also by answering any questions you may have on the self assessment system.
As part of the preparation process, we will also review your income and tax positions to ensure that your tax affairs are structured in the most efficient way. We will ensure that you are paying the correct amount and are benefiting from all relevant tax allowances that you’re entitled to.
CAPITAL GAINS TAX & PLANNING
If you are looking to dispose of a capital asset such as a property, a business or shares, up front consideration of the Capital Gains Tax implications is key. With careful and early tax planning, it is often possible to reduce, eliminate or delay the payment of your Capital Gains Tax liability.
Evaluating your exposure to Capital Gains Tax, will also give you the opportunity to assess the potential impact on your cash flow, so that you can prepare accordingly.
INHERITANCE TAX & ESTATE PLANNING
Without planning what happens to your estate after you are gone, you can’t choose who gets everything that you have worked so hard for all of your life.
We can provide a detailed review of your will to ensure that it is as efficient as possible for inheritance tax purposes. We are also able to advise on the use of lifetime gifts as part of inheritance tax planning and on trusts as a tool to reduce inheritance tax liability when passing assets to the next generation.
Trusts are legal arrangements that allow assets, such as money, property and shares, to be given away in a tax-efficient, controlled manner. They can be created during the lifetime of the person creating the trust or in their will. Trusts can be particularly useful as part of estate planning for couples who are not married or in a civil partnership or where arrangements for passing on wealth are made more complex by previous marriages where stepchildren are involved. They can also be used to reduce the cost of long-term care or to specify at what age or in what circumstances beneficiaries receive money or property.
Our expertise includes the preparation of trust accounts and HM Revenue & Customs returns and in the drawing up of trust deeds in conjunction with clients’ legal advisers.
STAMP DUTY & STAMP DUTY LAND TAX
Stamp Duty Land Tax (SDLT) is the tax payable on the purchase of property or land and is applicable to both residential and commercial property purchases.
The increasing complexity of SDLT can make it difficult to determine the correct rate of SDLT, the amount of consideration which is assessed to SDLT or the amount of SDLT which is payable.
We regularly advise a wide range of clients on SDLT issues from property developers to private investors and trustees, to property holding companies and not for profit organisations.
By taking a broad approach to your land tax affairs we can advise you on a range of property tax issues including VAT recovery on construction costs, VAT liability on purchases and sales of properties, availability of capital allowances and the application of the construction industry scheme.
We are flexible in our approach and can work directly with you or with land agents and law firms on your behalf.
