Self Assessment Accountant

Self Assessment Tax Returns

We are an experienced Self Assessment Accountants, so why not let us complete your annual Self Assessment/annual tax return? You will have complete piece-of-mind that you will comply with all HMRC's rules & regulations.

We can also introduce you to relevant tax saving ideas.

Letting Residential Property - Tax Impications

At the current time virtually every UK Government Budget appears to introduce new tax rules for those letting residential property. 

Do you have the time to keep up to date & understand the full implications of these changes? 

We can help you to stay legal and ensure your affairs are set-up in such a way as to minimise tax implications.

Holiday Lets: Tax implications

Buying or owning a holiday home which you let out, can be a very attractive investment. 

Tax advantages can be obtained if your property can be classified as a "Furnished Holiday Let" (FHL).

The benefits include the ability to continue to deduct any mortgage interest paid at your marginal rate, the property qualifying for capital gain reliefs when you sell & any income will count as "relevant earnings" to calculate you maximum allowable pension contributions in a year.

Let us review your set-up & suggest some tax saving opportunities.

Capital Gains

Capital Gains Tax is a tax on the profit when you sell (or 'dispose of') something (an 'asset') that's increased in value. It's the gain you make that's taxed, not the amount of money you receive. 

A broad range of assets are subject to this tax, e.g. buy-to-let property, Shares & Investments not held in ISAs, but also art (paintings, sculpture etc.). 

Giving away an asset can still generate a Capital Gains charge.

Each individual has an annual exemption (£11,100 in 2016/2017 & £11,300 in 2017/2018) and transfers between husband and wife, or civil partners, are treated as no gain and no loss (transfer can be made without creating a Capital Gains Tax charge)

Although some items are exempt (e.g. cars), many assets are chargeable and we can provide professional help to ensure you comply with all the rules.

Share (Bonus) Schemes

Some employers offer Share based rewards to their employees (e.g. as bonuses or trough a Company Share Scheme). 

For tax purposes there can be a range of issues to consider, including income tax & capital gains tax liabilities to be disclosed on you Self Assessment Tax return for the relevant year. 

HMRC Enquiries

Whilst not a pleasant thought, people do get selected for a more detailed review of their Self Assessment Tax Returns, either because of discrepancies identified by HMRC or as part of a random sample.

We can act for you as your Self Assessment Accountant when you have been selected for investigation, and guide you through the process, thereby making the experience a less intimidating & worrying one.