Personal Income Tax

Albert Einstein[on filing for tax returns] This is too difficult for a mathematician. It takes a philosopher.

If you are an employee, your Income Tax is deducted from your gross pay by your employer through PAYE (pay as you earn), which means that you hardly ever have to think about it. However, if you own a business, rent out a property, receive interest, dividends, or inheritance money, then you have to arrange to pay at least some of that income tax yourself. Finding out what you must, mustn’t, can or can’t do when it comes to filling in a tax return can be a lengthy and laborious process, as you would want to deduct allowable expenses, include Gift Aid payments, or for instance use a married couple’s relief. Or perhaps you made a loss and don’t know what your options are.

You don’t need to worry though, just get in touch and we can help you with the above and:

• discuss tax returns with you and advise when and how payments should be made

• perform tax planning and explain the potential liabilities based on your income

• organise tax refunds and self-assessments for you

• calculate tax liability from total relevant income after the deduction of relevant allowances and reliefs

• advise on tax rules and regulations