The government’s stated aim is to make tax easier, but taxation for individuals and sole traders still isn’t simple.
Personal tax advice from Perrys Chartered Accountants helps our individual clients to put their tax and financial affairs in the very best order.
Tax returns and planning for the future
As accountants for individuals, we provide friendly and open advice on all aspects of personal taxation as well as sole trader tax returns,
and multiple aspects of financial planning.
Getting self-assessment right is a key issue for everyone who is required by HMRC to complete a tax return, including:
Sole traders with profits over £1,000 pa
Partners in a business partnership
PAYE employees earning over £100,000 pa
Individuals getting more than £10,000 pa from savings, investments and share dividends.
Beyond tax returns, we provide the services of a personal accountant for tax planning for private individuals and families.
Taking the right steps now can mitigate liabilities under inheritance tax, including the setting up of trusts for tax efficiency.
Our team also keeps clients right up to date to with changes in legislation, with professional advice on the right steps to take.
Self-assessment tax returns
We make sure individual and sole trader tax returns are accurate
and include the right information on expenses, reliefs and exemptions.
Digital tax returns
With HMRC’s Making Tax Digital initiative, tax returns are increasingly being completed online. We guide clients through the process, and advise on any software required.
Inheritance Tax Planning
We provide professional advice on the best ways, including wills and trusts, to pass assets on to future generations with as much of the value in tact as possible.
Savings, Investments and Dividends
Income from savings falls into your personal allowance and is taxed at your marginal rate, once you exceed your savings allowance. Tax on dividends fall into a range of bands. We ensure your returns and allowances are properly reported.
Income from property
Any individual receiving income from property must make sure the income is declared. We provide expert advice which also covers allowable expenses.
Bookkeeping for sole traders
Accurate bookkeeping is essential for every business. We look after financial record-keepings for sole traders, allowing them to get on with their key trading activities.
If HMRC decides to investigate the finances of an individual or sole trader, being represented by an accountant is more likely to result in a successful resolution.
Freelancers and contractors
As a sole trader, you may operate as a freelancer or contractor.
While your income will be taxed in line with HMRC’s income tax rate
bands, care needs to be taken not to fall foul
of off-payroll IR35 rules.
Victoria has looked after the tax affairs of my consultancy for 20 years. Throughout that time, her work has consistently met high standards of accuracy and presentation.
Steve makes me feel that I am his only client, perhaps I am?
Accountants in London and Kent for individuals and sole traders
At Perrys Chartered Accountants, we work with a wide range of clients.
We provide the same level of personal, professional service for all clients, regardless of whether they are individuals, sole traders or larger corporates.
We have experts on our team who have worked extensively with individuals and sole traders,
who are on hand to provide a professional service especially for you.
To arrange a free and informal meeting to find out how we can help you, please contact Perrys Chartered Accountants in Kent and central London.