Personal Tax &

Tax Returns

You would think that preparing a Self Assessment Tax Return would be relatively simple, but unfortunately you’d be wrong.

 

The UK has one of the most complex tax systems in the world, which can mean even preparing the most simplest of tax returns is extremely complicated. Furthermore, HMRC have now introduced extremely harsh penalties for errors and late submission (even if you don’t have a tax liability!), so it is essential expert advice is sought.

 

We are strong believers that people should use experts to prepare their tax return, and at Think Tax we believe we’re the best.

 

We save you time by not having to worry about your tax and above all we save you money by advising you of any allowances and expenses you can claim. In many cases, these savings cover our fees many times over.

 

We come across many people that try to use the HM Revenue & Customs online service and prepare their tax return themselves, however this service certainly doesn’t show you how to minimise your tax liability (why would they!) or offer advice throughout the year. It’s also extremely difficult to use and not user friendly.

 

There are a number of reasons why you may have to complete a tax return for the first time such as if you:

 

  • Become a company director
  • Start to get income from land and property in the UK
  • Have annual income of more than £100,000
  • Sell shares, property or other assets liable to Capital Gains Tax
  • Get untaxed income that cannot be collected through your PAYE code
  • Have taxable foreign income of more than £300
  • And many other reasons you might need to complete a tax return.

 

We prepare hundreds of tax returns for clients on an annual basis. We act for the self-employed, buy to let investors, medical professional and the recently retired. We can also act for an individual if they need to submit a ‘one-off’ tax return.

 

If you are unsure whether you need you need to prepare a tax return or just want to have a discussion about your affairs, please do not hesitate to give us a call.

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