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Taxation AdviseAll aspects of personal self-assessment tax returns The term self assessment is proving to be one of the great misnomers of all time. Many taxpayers struggle to understand the complex tax returns and as a result complete them incorrectly. In the first year of the regime alone, 775,000 taxpayers received £100 penalties for failing to submit their returns on time, and some 400,000 incurred further penalties because their returns were still outstanding six months later! The constant stream of changes to tax legislation means not only that the returns are becoming even more difficult to understand but also that taxpayers risk incurring more penalties through failing to complete their returns on time or correctly. We can save you a lot of time, worry, and money by handling your self-assessment for you. We will do all the necessary computations, complete your return, and even offer advice on how you can minimise your tax liability. We can act as your agent, dealing directly with the Inland Revenue on your behalf and, should you be selected for a self-assessment enquiry, act for you at any meetings. Personal tax planning With the tax regime becoming more complex and more emphasis being put on taxpayers' individual responsibilities, everyone who is subject to taxation needs professional advice and support if they are to optimise their tax position and ensure they meet all the compliance requirements. Every pound of income tax you save means more income at your disposal, every well planned disposal of assets means minimal loss of capital gains, and every inheritance tax saving means more benefit for your beneficiaries. For more information on personal tax planning Click here Tax planning for directors One thing all of our clients have in common is a concern over taxation. With tax laws continuously changing it may seem like an uphill struggle. Whether you are running a company or are a self-employed trader we can recommend strategies that will minimise the amount of tax you will have to pay. We also specialise in tax planning for husband and wife partnerships as well as family businesses. Company taxation Corporation tax represents a substantial part of your trading costs. Moreover, the increased reporting obligations, robust investigation policies on the part of the tax authorities, and harsher penalties for non-compliance mean that an undue amount of your time and resources can be taken up collecting revenue for the Government. We offer a range of services to help you minimise your corporate tax exposure and relieve you of the administrative burden of complying with tax legislation. Please Contact Us if you would like to discuss any tax concerns. Alternatively please see our Tax Guide for some online tips and information.
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