Personal Taxation

Tax Returns

Completing a tax return can be stressful experience, even if there are only a few entries to make. There are various filing deadlines to meet, depending on personal circumstances and as those deadlines approach, the task can seem more and more daunting.

HM Revenue and Customs may ask you to complete a Tax Return if you have complex tax affairs or if you receive:

• Rent or other income from land or property
• Income from overseas
• Income from self-employment or from a partnership business
• Other income which is received gross, i.e. without tax deducted

At FSBC we can help by:

• Completing your tax return
• Calculating your final tax liability
• Filing the return online
• Identifying the amounts to be paid and when they are due

We can also analyze your self assessment tax return to see what tax savings could be made, and we can also review the form to see if there are any anomalies that should be addressed before submission. This way we help to minimise the risk of a Revenue investigation into your tax affairs.

If you commit to providing all of the relevant information within a reasonable timescale , we will offer a fixed, competitive price to take the worry away when it comes to self assessment tax returns, allowing you to concentrate on the more important things in life.

Tax Credits

There are many Tax Credits available to help lower your tax bill for those on low and middle incomes; Child Tax Credit and Working Tax Credit being two of the most significant. It is important that you review and renew these each year to ensure that you are paying the correct amount of tax, as accidental over claims can lead to difficult situations as HMRC demands prompt payback.

At FSBC we can help you identify the Tax Credits that you are entitled to claim and ensure that you do not overpay Tax.

HMRC Investigations

Tax investigations have become more frequent now that Revenue staff can review cases on a sampling basis. Being the subject of a tax investigation by the HMRC can be a stressful and worrying experience. We can help you to deal effectively with HMRC investigations, whether they are enquiries into an individual's Tax Return under the Self Assessment regime, more detailed enquiries or employer-related investigations into PAYE and P11D compliance. If you are about to be the subject of an investigation, we can provide expert help and support.

Inheritance Tax

Few of us like to think about dying. Unfortunately if we fail to plan our financial affairs well in advance, the effects on those we leave behind can be traumatic. This means making the necessary provisions now. There are many tax opportunities available and the earlier arrangements are made, the greater the chance of taking full advantage of our complicated tax system.

It is important when planning to transfer an estate that adequate provision is made and getting the right balance requires considerable skill and foresight - along with a detailed knowledge of the current tax regime. We provide a discreet comprehensive estate planning service that includes:

• Help with planning and reviewing a will
• Making full use of exemptions and lower tax rates on lifetime transfers
• Optimising lifetime transfers between family members
• Transferring agricultural or business property
• Transferring assets into trust
• Providing guidance on adequate life assurance levels to cover potential inheritance tax liabilities

We can also provide the full range of accounting services required for trust management if required.

Free Initial Consultation