UK Tax Services for Individuals
We work with a number of individuals in this way on an ongoing basis to ensure that their future and current plans are tax efficient
We work with a number of individuals in this way on an ongoing basis to ensure that their future and current plans are tax efficient
Efficient tax planning will help you save money in the long term by carefully utilising all your tax allowances whilst keeping a watchful eye on implications for capital gains tax, inheritance tax and estate tax in the US for those with US tax liabilities.
We work with a number of individuals in this way on an ongoing basis to ensure that their future and current plans are tax efficient.
This is the system that HMRC uses to collect Income Tax from individuals who have earned income that HMRC doesn’t know about such as earnings from a business or rental properties. The tax return shows how much an individual has earned and from what sources over the course of a tax year. Most business owners have to prepare a tax return and then send it to the HMRC and pay their tax bill by midnight on 31st january every year.
Individuals with complicated affairs linked to business earnings, foreign property, selling assets or those who are Company Director’s will often use an accountant to file their self assessment as part of their overall tax planning service.
If you live abroad for 6 months a year or more and rent out your property in this country you are classed as a “non-resident landlord” and will be subject to the Non Resident Landlord Tax. Landlords can elect to receive rent through a letting agent with tax deducted or direct from the tenant and pay the tax through their self assessment. As you can imagine both options have their pros and cons.
We can advise you on the most tax efficient way to receive your rent to minimise your tax liability across your entire earnings.
Capital Gains is the tax you pay on the profit when you sell or dispose of an asset. It is the gain you make that is taxable not the amount of money you receive.
If you are looking to dispose of a capital asset such as property, business or shares proper advice and consideration to your Capital Gains Tax liability can often reduce, minimise, eliminate or delay the payment of your Capital Gains Tax liability.
Anyone who could sort out the quagmire that was my accounts back in the mid-’90s, and do it with humour and patience, is either a Saint, a genius or both. Thankfully for me, Cookie is all and more besides
Jonny Gould director of The Tomster Productions Ltd.
Related Blogs
It’s time to get your self assessment in – don’t leave it until the last minute. Read more HERE
What is Capital Gains Tax?
Read more HERE
Stay up to date with the Capital Gains Tax rates for this & next. Read more HERE
Airbnb Hosts make sure you are disclosing your earnings to HMRC
Read more HERE
If you need UK Tax advice contact us on hello@jarem.co.uk , call us on 01525 852769 or pre book an appointment with Calendly
