Unfortunately tax affects everyone, as individuals and businesses. Through proactive tax planning, we can help minimise this burden and ensure you are only paying what you are liable for. By getting to know our clients, we are able to look at the wider picture to ensure you organise your affairs in the most efficient manner.
We work with individuals, regardless of wealth, and businesses of all sizes. Contact us now for a free initial consultation with a director to discuss how tax is affecting you.
Self Assessment Tax Returns
If you receive certain types of income, such as property income, or your income is above a certain limit, you may have to complete and submit a Self-Assessment Tax Return.
Completing even a simple Tax Return can be complicated, especially given the ever changing rules and regulations. In addition, HM Revenue & Customs (HMRC) can charge hefty penalties for incorrect returns.
Here at PCLG, we can complete your Tax Return for you, including preparation of any associated year end accounts, calculating any tax liabilities which are due, filing with HM Revenue & Customs (HMRC) online and also advise on any tax reliefs which may be available to you.
Income tax is applied on your earnings, which can include:
As well as preparing your annual accounts, we can complete your Self Assessment Tax Return, ensuring you pay the correct amount of tax and maximise the tax reliefs available to you.
Rental and Property Income
HMRC have access to a wealth of information from outside sources, one of which is the Land Registry. HMRC have also indicated that they are actively targeting those individuals with undeclared property income.
If you let out a second property, or own a portfolio of properties, we can prepare your accounts and make the relevant returns to HMRC, as well as advise on specific tax reliefs available for property income.
If you have rental income but haven’t registered for a Tax Return yet, please contact us for assistance.
Capital Gains Tax
Capital Gains Tax generally arises when you dispose of an asset, for example stocks and shares, property or on the sale of your business.
It is even possible to end up with a CGT liability simply by gifting an asset, for example to a family member, even though you haven’t received anything for it.
We can help plan in advance of any disposal and advise you on how to best arrange your affairs in order to minimise any future Capital Gains Tax liabilities.
No one wants to think or talk about death, however quality Inheritance Tax planning can give peace of mind, in knowing that any tax liabilities left after you’re gone are kept to a minimum.
Generally as part of our audit and accounts preparation service, we provide companies with proactive business tax advice. We can ensure your business is structured in the most tax efficient way and take full advantage of any tax reliefs which may be available.