High quality personal tax advice at affordable prices
Our aim is that you pay as little tax as possible (within the scope of existing legistlation), and that you get efficient, informed advice when you need it. With income tax and national insurance rates higher than they have been for over 30 years, sensible personal tax planning and structuring is essential. No-one should pay more tax than they have to.
Peter Crowther heads up the personal tax team and advisory. He has been in the profession for over 25 years and advises some of the City's top earners.
The team is responsible for filing hundreds of tax returns annually. Each return is filed with the same efficiency and attention to detail, regardless of size and complexity.
Investment portfolios
Clients with straightforward affairs use us because it gives them peace of mind and, of course, we may find ways of saving income tax.
Clients with more complicated affairs use us because of the skills and experience we have, and because our South West London rates are much cheaper than those of the big City firms.
Sole traders and partnerships
We take great care to ensure that you tax return is accurate. If you are a sole trader or a partnership, a significant element in this will be that all relevant expenses are claimed, within the parameters of established tax legislation and guidance provided by HMRC. Years of experience have taught us how to position your affairs such that you pay as little tax as possible, whilst ensuring there is a defensible position in the unlikely event of an enquiry.
Many clients are considering transferring their trade to a limited company. In the current tax environment, there are year on year savings to be made regardless of size.
We can advise on the transfer, and on the valuation of "goodwill" being purchased by the limited company. Goodwill can be written off in the new company, creating one-off tax benefits.
Directors of limited companies
We prepare tax returns for the directors of the limited companies that we look after. Very often, they are very straightforward because we are familiar with the affairs of the limited company, and the structuring for maximum tax efficiency has already been done as part of the preparation of the limited company accounts.
Penalties for late submission of personal tax returns are changing
This section is only of interest to those who file late tax returns.
In all years up to 2010, it has been possible to cancel a £100 penalty for late submission if a return is was subsequently filed that showed no tax liability, or showed a liability that was covered by payments made before 31 January. This enabled many clients to file late without penalty.
This loop-hole is no longer available. For 2011 and all future years, penalties for late submission cannot be cancelled.
In addition to the £100 penalty for being late, an automatic daily penalty is being introduced of £10 per day until the return is filed. There are additional penalties if the return is more than 3 months late. Read HMRC guidance on the PDF below.