• Personal Tax
• Partnership Tax
• Business Tax
• Corporation Tax
• Trusts and Estates Tax
• Inheritance Tax
• Capital Gains Tax
• VAT

Personal Tax

There are various instances when an individual has to prepare a tax return. Under self assessment, it is the individual’s responsibility to determine whether they need to prepare and submit a tax return. If you are unsure contact us and we will advise you accordingly.

We know from experience that tax and completing a tax return is by no means simple and should not be underestimated. The law stipulates you not only have to complete it, but complete it correctly. Failure to submit a return or submitting an incorrect one can result in penalties of up to 100% of any tax underpaid.

Common cases where you may be required to prepare a tax return without realising are:

• A higher rate tax payer (taxable income of over £39,825 for the current (2007/08) tax year and over £38,335 for the previous (2006/07) tax year with income taxed at lower than 40% tax rate (such as bank interest and dividends).
• Self employed.
• Or receiving income which has no tax deducted at source, such as rental income.