Self Assessment Tax Returns

Almost 1 million people per year receive fines for failing to return their self-assessment tax returns to HMRC on time, often simply because people find them to be unnecessarily long and confusing. It is quite understandable if you feel the same, and that even the idea of completing your tax return leads to worry. On top of that, there is the risk of failing to calculate your tax return correctly, with 25% of returns containing errors, and being reported by HMRC.

We will transform HMRC's most complex regulations into simple advice, keeping you on the straight and narrow. As well as reminding you of important payment deadlines, we will do everything we can to minimise the amount you pay. We will also advise you when there may be opportunities to defer your tax payments, and we help you to make full use of all your exemptions and reliefs.

The HMRC has the power to investigate income tax payers at random. If this happens, we can negotiate on your behalf. And we can arrange insurance to protect you against the cost of professional representation in many of these investigations with our Professional fee protection insurance service.

We really understand the personal tax issues affecting foreign nationals living or working in the UK and can advise you on how to avoid paying unnecessary tax. We also help temporary UK residents, and give tax advice to UK nationals who are going abroad, either permanently or temporarily.

If you are interested in help with your annual Self Assessment tax return, please do not hesitate to contact us.

 

Inheritance Tax

Inheritance tax avoidance can be achieved in a number of ways. Like every aspect of tax planning there are numerous ways of achieving the desired result.

None of us like to think about what will happen when we die but most of us are keen to minimise the Inheritance Tax payable and to leave matters as tidy as possible for our heirs. More estates are becoming liable, particularly as house prices have risen so steeply in recent years.

The first step is to ensure that you have a will that is up to date, reflects your wishes and is tax efficient. We can help you with this including liaising with your solicitor.

There are also various steps you can take in your lifetime by making use of the exemptions from Inheritance Tax. We can consider these with you, taking into account your continuing financial requirements and family circumstances.

Some of the structures and methods that we use for inheritance tax avoidance are:

  1. Maximising exemptions and pension contributions
  2. Nil Rate band planning using an up-to-date Will
  3. Deed of variation
  4. Discounted gift and income trust
  5. Loan trusts
  6. Lifetime gifts
  7. Many other alternative solutions