Taxation advice

Tax is a fact of life, whether you are launching a small business, submitting your self-employed tax return, declaring capital gains, planning for inheritance tax, or trying to ensure your company claims all the right tax allowances.

The UK tax system is also highly complex and changes rapidly, making it essential to work with a qualified accountant to ensure you have accurate advice, complete all the mandatory tax returns, and avoid unnecessarily overpaying and depleting your wealth.

James Todd & Co is a firm of Chartered Accountants with extensive knowledge and skill in navigating the challenges of the tax framework. We provide tax advice to businesses, families, individuals, and private organisations and guidance to ensure our clients understand the tax implications of each financial decision they make.

One of the primary reasons tax causes so much stress is that the online guidance available can be difficult to interpret or apply to specific events, assets, or scenarios.

Many taxpayers also have multiple tax obligations and risk falling foul of an HMRC investigation even when they believe they have submitted accurate returns in good faith.

Our capable, experienced tax compliance team can provide support with a broad range of tax classifications, including the following:

• • UK income tax for private clients, older people, and those on a low income.
  • National Insurance for employer, employee, and self-assessment taxpayers.
  • Business taxes, director’s expenses, and employer PAYE submissions.
  • Inheritance tax to help you protect your wealth for family member beneficiaries.
  • Capital gains tax allowances, declarations, and eligible exemptions.
  • Support for tax charities and complex organisations that need to ensure tax compliance.

James Todd & Co accountants have been providing confidential advice for many years. In the first instance, we discuss your immediate finances, getting to know your personal tax position or business structure.

From there, our tax accountants will address any ongoing tax issues, recommend steps to settle outstanding tax affairs, and review past and current returns to assess whether you are paying the right amount of taxes on your professional and private income.

All businesses, self-assessment workers and individuals with a UK income arising from work, trade, asset sales, inheritances or investment are liable to pay tax. Still, your exposure to taxes will vary depending on multiple factors, such as:

• • Eligible business running costs.
  • The nature of your assets and income streams.
  • Property ownership.
  • Personal profits or dividends received.

While it is imperative you file tax returns to avoid enforcement action, an efficient tax adviser can often recommend strategies and provide professional advice to help with tax planning and avoid excessive exposure.

Please contact James Todd & Co if you require tax help, assistance submitting online returns, or assessing whether you are paying unnecessary tax from your personal or business profits.