Personal tax becomes a lot more complicated the moment you move beyond a simple pay-as-you-earn (PAYE) situation, whether that’s because you’ve become a higher-rate taxpayer, or a company director, or have acquired multiple sources of income.
How you structure your business, draw an income from it and arrange your family finances can all make the difference between paying a fair amount of tax or paying more than you ought to – something nobody wants to do.
Even completing a fairly simple self-assessment tax return can be time consuming and stressful. The language HM Revenue and Customs (HMRC) uses can be downright baffling at times with page after page of declarations that aren’t relevant to most people.
If your return isn’t accurate, at the very least you can find yourself wasting yet more time going back and forth with clarifications or, in the worst-case scenario, under investigation. And if you miss the 31 January tax return deadline, you could face serious penalties.
Bevan Buckland’s personal tax service will ensure you claim all the reliefs to which you’re entitled and make the process as fast and stress-free as it can possibly be.