Many individuals are required to prepare a personal tax return annually.
This is usually due to them being a company director, in receipt of significant investment income or because their total income is in excess of the higher rate tax band.
At Simas Accounting & Tax we are well experienced in assisting clients comply with these responsibilities.
Check to ensure you need to complete a return
First and foremost, we ensure that you do indeed need to prepare a personal tax return. If your circumstances have changed, we will look to take you out of the self assessment tax return regime.
Peace of mind provided
If you do need to prepare a personal tax return, we will remind you as to what the upcoming due dates are.
Furthermore, we will advise you of what we understand to be your sources of income, and request the information from you in a timely manner.
We will draft your tax return based on the informaiton provided, and send this for your review, together with the calculaitons of your tax liabilties.
Keep you compliant, but maximise tax reliefs
We will advise you of your tax liabilites, and ensure that you claim any tax reliefs available to you.
Once you have returned the signed tax return to us, we will submit this to HM Revenue and Customs on your behalf.
We can offer additional services to our clients, if they require these services.
Maybe it will be capital gains tax calculations on the sale of assets. Or advice concerning inheritance tax and estate planning. Or maybe you need advice on buying a rental property?
We can also talk with you about your own long-term goals:
- Are you looking to get on the housing ladder?
- Or are you there, and now have timescales in mind of becoming mortgage free?
- Do you face the prospect of paying those university fees?
- Should you be using ISA allowances?
- Or what about your income in retirement?
Whatever your goals, we can help you annually to see where you are at and plan ahead.