Personal Tax Planning Accountants for UK Individuals

You may be able to reduce your tax lawfully by claiming allowances and reliefs you are entitled to, using losses where the rules permit and considering the tax consequences of timing or structure before transactions take place. What is available depends on your circumstances, so eligibility should be checked rather than assuming a particular relief applies.

For most taxpayers using Self Assessment, an online return is normally due by 31 January following the end of the tax year, while a paper return is normally due by 31 October. Any balancing payment is normally due by 31 January. Payments on account may also be due on 31 January and 31 July where the payment-on-account rules apply.

Missing a Self Assessment filing or payment deadline can result in penalties, interest or both. The consequences depend on whether the return, the payment or both are late and how long the delay continues. If a deadline has already been missed, dealing with the outstanding return or payment promptly can help prevent the position from becoming more difficult.

The roles can overlap, but they are not necessarily the same. Accounting People provides personal tax support through its accountants rather than presenting a separate tax-adviser team. We can assist with accounting, tax compliance and tax-planning matters within our scope. Regulated financial planning and legal estate-planning advice should be obtained from the relevant separate professional.

Yes. HMRC can open an enquiry into a Self Assessment return in certain circumstances. Accurate records and filing do not prevent HMRC from opening an enquiry, but they can make it easier to explain the figures reported and respond to questions. We can support clients with the accounting and tax aspects of HMRC enquiries where appropriate.

There is no single set of reliefs that applies to everyone. Depending on the circumstances, areas that may need reviewing include allowable expenses or deductions, tax relief relating to pension contributions, Capital Gains Tax reliefs and losses, property-related deductions and relevant income allowances. Eligibility needs to be checked against the individual’s circumstances.

It depends on the complexity of the individual’s tax affairs and the work required. Someone with straightforward income and reporting may not need ongoing tax planning. It can be more useful where there are multiple income sources, significant gains, property income, overseas matters, allowance restrictions or transactions whose tax consequences should be considered in advance.

Fees vary depending on complexity, income sources, and services required. Clear pricing and value-based advice ensure you know exactly what you’re paying for.