Personal Tax Returns & Tax Planning

As tax advisers, our objective is to work closely with you to ensure you pay the minimum tax required by law.

We will help you to understand the tax implications of your actions, in order that you can plan ahead and conduct your affairs in a tax efficient way.

Personal tax (inc. sole-traders & partnerships)

We are specialists in income tax, capital gains tax and inheritance tax.

Self Assessment

We have the expertise and software to take the headache out of the form filling and compliance aspect of Self Assessment. We can provide you with practical advice on personal tax and the planning opportunities available to you. Over recent years HMRC have increased the penalties for failing to file a return on time and for errors. We can complete tax returns, calculate any tax liability and advise you on exactly when to make payments and how much to pay.

Personal tax planning

Everyone who is subject to taxation needs professional advice and support if they are to optimise their tax position and ensure they meet the compliance requirements. Our specialist tax team can provide you with year-round advice on all aspects of personal taxation.

HMRC Investigations and Enquiries

Being the subject of a tax investigation or enquiry by HMRC can be a stressful and worrying experience. We have a wealth of experience in dealing with HMRC investigations, whether they are enquiries into an individual’s Tax Return, more detailed enquiries into a company’s affairs or employer-related investigations into PAYE and P11d compliance. If you are the subject of an investigation, we can provide expert help and support.

Fee Protection Service

Each year HM Revenue & Customs (HMRC) undertake an enormous number of tax enquiries into individuals and businesses to check they have paid the right amount of tax. Since 2010 HMRC have strengthened their approach to enquiry work by using wider powers and sophisticated software and consequently secured a record £36.9 billion of additional tax revenue in 2019/20, up a further £2.8 billion on the previous year.

Moving forwards, we expect to see an even greater increase in the number of tax enquiries as HMRC look to recover the enormous £350bn government spend through the Covid-19 pandemic, as well as ensuring that the measures put in place to support the economy through this period have been utilised correctly by taxpayers. 

Tax enquiries can last for months, even years and defending you against HMRC’s detailed questions requires specific expertise and can be time consuming and costly. Indeed, the cost of dealing with an enquiry can amount to thousands of pounds, even if no extra tax is payable.

Tax Enquiry Fee Protection offers peace of mind…

To provide peace of mind, we offer all our clients the option to pay a modest annual fee to join our Tax Enquiry Fee Protection Service. The service is backed by an insurance policy which we have taken out in our own name and under which we can claim the costs of defending clients who face tax enquiries.

This service offers support for areas such as……

  • Corporation Tax and Income Tax full or aspect enquiries (including enquiries into Scottish taxes)
  • PAYE/NIC compliance checks
  • IR35/Employment Status
  • CIS enquiries and disputes
  • VAT compliance checks and disputes
  • National Minimum Wage / National Living Wage enquiries
  • Gift Aid enquiries

The Service is backed by an insurance policy from Vantage Tax Fee Protection Ltd which we have taken out in our name.

Estate planning

Few of us like to think about dying; however, the relevant legislation requires us to plan well in advance. This means making the necessary provisions now. There are many tax opportunities available and the earlier arrangements are made, the greater the chance of taking full advantage of our complicated tax system.

It is important when planning to transfer an estate that adequate provision is made and getting the right balance requires considerable skill and foresight – along with a detailed knowledge of the current tax regime. We provide a discreet comprehensive estate planning service that includes:

  • help with planning and reviewing a will
  • making full use of exemptions and lower tax rates on lifetime transfers
  • optimising lifetime transfers between family members
  • transferring agricultural or business property
  • transferring assets into trust
  • arranging adequate life assurance to cover potential inheritance tax liabilities.

Trusts

We also have expertise in dealing with trusts; a very tax efficient way to set aside assets for future beneficiaries outside the inheritance tax net. We can advise on the most suitable type of trust to fulfil your wishes, assist in setting up the trust and provide the full range of accounting services required for trust management.

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