Personal Tax Services

Personal Tax Services 2017-10-10T18:10:19+00:00
‘’In this world nothing can be said to be certain, except death and taxes.’’ – Benjamin Franklin

Personal Tax Services

We all have to do it, and although it may seem like a hassle at times, it is important as a society for us to pay taxes for a myriad of reasons. There are so many different types of taxes that it can often seem overwhelming, but with the right knowledge and advice, it does not have to be.

The main tax that most people have to deal with, and sometimes requires advanced tax planning for, is income tax; the tax that you must pay on your own earnings and income. The taxes that you are required to pay can include earnings from employment, any profit from self-employed earnings, pensions, any benefits you receive from your employer, the income you receive from a trust, and any rental income.

However complicated it may seem, you do not actually have to pay taxes on everything. Some state benefits do not require tax to be paid on them, as well as any interest earned from your own personal savings, national lottery earnings, and premium bonds. In addition, you do not pay tax on rent paid for lodging, earnings from tax-exempt accounts like IRAs or national savings certificates. It also exempts the first £5,000 of dividends from any company shares.

The tax collected in the UK goes to a minimum of three separate levels of government including local government, central government, and the developed national government. Income tax is the biggest source of revenue towards the government. Each citizen has an income tax personal allowance, and income amounts which fall below this threshold in each tax year are free of tax. With this in place, any income that is above the personal allowance is taxed using different types of bands.

We can help offer any tax advice you may need, or help to get you on the right track when it comes to filing your own personal taxes.

employment tax accountant

Employment Tax

It is a vital element of our civilization to pay employment taxes, and a portion of our income…

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Self-Employment tax accountant

Self-Employment tax

If you are working for yourself either as a freelancer or sole trader, or even if you employ others…

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Property Income Tax accountant

Property Income Tax

The idea of earning an income from property investment has grown in popularity over the years…

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Partnership Income Tax accountant

Partnership Income Tax

This is sometimes a difficult area to tackle on your own without professional guidance….

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Foreign Income Accountant

Foreign Income

Generally speaking, individuals who are deemed to be resident in the United Kingdom are required…

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capital gains tax accountants

Capital Gains Tax

In the United Kingdom, taxes on gains from the sale of residential properties are calculated…

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Dividends and Interest Tax Accountant

Dividends and Interest

The changes made to Dividends Tax and Credits in 2016 were complex, so you should seek…

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UK Pensions Advisor

UK Pensions

As your pension contributions will all benefit from tax rate relief, we can provide you with personal…

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Remittance Basis – Non-residents Tax Services

Remittance Basis –
Non-residents

Tax for non-domiciled UK residents can be complicated…

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Inheritance Tax

Inheritance Tax

Inheritance Tax is levied on the possessions, money and property of a person who has died…

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Trusts Tax Accountant

Trusts

There are many varied types of trust fund and they all are taxed in different ways. The more familiar…

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