Who can we help?
Below are some typical tax situations where we could certainly assist you:
Property Rental Income
This is an area in which we specialise and we are retained by a number of lettings agents to look after their property renters’ tax affairs. There are special and complex rules regarding rental income taxation. We are experts at getting the best out of claimable expenses and arriving at the best tax situation. Doing it yourself could cost you more in tax than using us! And of course our fees are tax deductible and reduce the tax bill!
You may already be self-employed. Or you may have been made redundant or left your employment for another reason and are intending to become self-employed. Initially we can get you registered with the tax authorities. We would then advise you on your record-keeping for tax (book-keeping): your expenses claims, and the general rules about when to pay tax and national insurance. If necessary we can provide a simple spreadsheet template for you to record your income and expenses. At the end of each tax year we would prepare your tax return and deal with the tax people on your behalf should they raise any queries (bear in mind that this is much less likely to happen if you have a professional tax adviser working for you). Our objectives would be to help you keep satisfactory records for tax purposes in a simple, time-saving manner. And try to find ways in which your tax bill can be reduced each year!
Income entirely (or mainly) from employment
You may or may not be in the self-assessment tax system already but (even if you are not):
- You may use your own car for business and need to make an expenses claim as a result.
- You may have benefits in kind (company car, medical insurance, expense account etc) and have a feeling that you are being taxed excessively on these.
- You may be paying into a personal pension plan and not getting your full tax allowance
- You may believe that your PAYE tax code is not correct and your monthly tax deduction too high (or low). Or you may have several code numbers against several income sources and have a nagging feeling that all is not well.
- You may have received an unexpected tax bill (perhaps relating to several years) and not received an acceptable explanation from the tax authorities.
- You may have changed jobs several times during the tax year and find that your PAYE deductions have gone haywire.
- You may have some other problem or worry about your tax which the tax people seem incapable of solving.
- You may just be getting a lot of bother from the tax people which is causing you anxiety.
Capital Gains Tax
You may have sold a property, shares or some other asset on which there could be a taxable gain. Or you may own an asset on which there is a potential taxable gain and want some advice as to how the tax bill can be reduced before you sell. We will show you how to minimize the tax bill.
Leaving the UK and returning to the UK
This is a very complex area of tax fraught with pitfalls and traps for the unwary. Say or do the wrong thing; get your timings wrong; and you could be in for a nasty shock. Talk to us before you do anything.
Retired or semi-retired people
People with several sources of income and who have several PAYE code numbers are in severe danger of having too much or too little tax deducted. The latter can result in an unexpected tax bill going back several years. This happens all too frequently. The reason is that the current PAYE system is antiquated and it struggles to cope with multiple pensions and other income. Code numbers are frequently wrong and the tax paid too high. Let us do a check for you for a small nominal fee. You may be entitled to an annual repayment....
People who already have a tax adviser
You may be discontented with an existing adviser because they charge you a lot, or because the service is not good, or because the relationship is not to your liking. It's very easy to change to us and it need not cause any embarrassment. Simply instruct us to act and we will let your old adviser know. You need not have any contact with your old adviser when you leave if that is what you would prefer.
People who do their own tax return
If you do your own self-assessment tax return you may have a nagging worry about whether you have got it right. Get rid of that worry and use an expert at a cost to suit your pocket.
People who are having difficulties with HM Revenue & Customs
You may be having a temporary problem with the tax people which is causing you anxiety and which you cannot get resolved to your satisfaction. You have to be very careful how you present information to them as they only too easily misunderstand what you are trying to say. And much confusion can arise! Best to pay a small amount of money to let an expert sort it out for you!