For Individuals

22 Jun

The annual HMRC self-assessment tax return every year to 5th April covers everything from employment to trust income to inheritance and capital gains, with every other possible source of income in between.

Child & Child will calculate, complete and submit your personal tax return for you, focusing on all possible reliefs and annual exemptions to minimise your overall tax and National Insurance liability.

We help you:

Establish if you actually need to file a return

Complete your annual Self-Assessment Return well ahead of the 31st January deadline so you know your tax liability well in advance, allowing you to plan your cashflow

Ensure you are claiming all eligible personal allowances specific to your circumstances

Maximise tax efficiencies between married couples/civil partners where one spouse is a lower earner than the other

Understand the expenses you can claim against rental income and which tax regime is best for you – rent a room relief/full land and property section

Ensure you are claiming any allowable employment expenses on your return

Advise on Tax reliefs available on investments such as Venture Capital Trusts, Enterprise Investment Schemes and SEIS

Plan for Capital Gains Tax on proposed disposals of property/shares or other assets

Where you are non-UK resident in a particular tax year, claim double tax treaty relief and understand the UK tax implications of residency and domicile

Plan for Inheritance Tax – for example business property relief and the implications of gifting in the seven years prior to death

Where you have a business decide on whether to trade as self-employed or a limited company/partnership and prepare your accounts accordingly

Ongoing advice on the implications of change in tax legislation which of course change regularly!


 

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