Personal tax
Self-Assessment for Company Directors and individuals with multiple sources of income. Calculating the tax liability, making the most of allowances and submitting returns to HMRC.
Personal Income TAX
Income Tax is a tax you pay on your income. You don’t have to pay tax on all types of income.
Incomes Not Eligible for Income Tax
- Income from tax-exempt accounts, like Individual Savings Accounts (ISAs) and National Savings Certificates
- Some state benefits
- Premium bond or National Lottery wins
- The first £7,500 of rent you get from a lodger in your home.
Incomes Eligible to Income Tax
- Money you earn from employment
- Profits you make if you’re self-employed
- Some State Benefits
- Most pensions, including state pensions, company and personal pensions and retirement annuities
- Interest on savings and pensioner bonds
- Rental income (unless you’re a live-in landlord and get £7,500 or less)
- Benefits you get from your job
- Income from a trust
- Dividends from company shares
- Gains from Sale of Assets or shares in business
Relief & Allowances
The following relieves and allowances are available for UK people:
- Personal Allowance (This is the amount of income you don’t have to pay tax).
- Tax Relief (if Qualify).
Payment Methods
The following payment methods can be applied for the income tax.
- PAYE (Pay As You Earn)
- Self-Assessment Tax Return
- Income Tax on saving and Investment Interest
If you are looking for Personal Tax Accountant in London or London based Accountant for personal tax return or self-assessment, please contact us with your requirement and we will get back to ASAP. Note that we are also online accountant for personal tax returns as in most cases we do not need to have a face to face meeting to deal with your returns and provide advice.
"Riz and his team are brilliant to work with. They're always so helpful and prompt in answering our queries. Nothing seems to bother them, even the silly questions I am prone to asking! Riz is also my financial alarm clock – reminding me of the dates and deadline we must act on, in his ever friendly and helpful way. I've dealt with a few accountancy firms over the years who don’t give anything approaching Riz's level of service. I would recommend Riz and his team to anyone looking for a professional, trustworthy accountant firm, and who demands a first-class service for their financial affairs."
– Shelley Hoppe , Director, Southerly Communications
Comparison of our services
Management reports
| Service | Personal Tax | Annual Accounts and Compliance | Finance Department |
|---|---|---|---|
| Monthly management reports | – | – | Yes |
| Aged debtors & creditors analysis | – | – | Yes |
| Reports on reconciliations and ad-hoc reports | – | – | Yes |
Bookkeeping
| Service | Personal Tax | Annual Accounts and Compliance | Finance Department |
|---|---|---|---|
| Supplier & clients data records | – | – | Yes |
| Record purchase invoices | – | – | Yes |
| Record sales invoices | – | – | Yes |
| Payment allocations | – | – | Yes |
| Bank reconciliations | – | – | Yes |
| VAT reconciliations | – | – | Yes |
| PAYE reconciliations | – | – | Yes |
| Fixed asset register & depreciations | – | – | Yes |
| Sales invoices | – | – | Yes |
| Prepayments and accruals reconciliations | – | – | Yes |
| Salary Journals | – | – | Yes |
Payroll
| Service | Personal Tax | Annual Accounts and Compliance | Finance Department |
|---|---|---|---|
| Payroll reporting | – | Yes | Yes |
| Payslips, P45, P46 etc. | – | Yes | Yes |
| RTI submissions | – | Yes | Yes |
Accounts
| Service | Personal Tax | Annual Accounts and Compliance | Finance Department |
|---|---|---|---|
| Abbreviated accounts | – | Yes | Yes |
| Full accounts | – | Yes | Yes |
| iXBRL tagged reports | – | Yes | Yes |
| Corporation Tax calculation | – | Yes | Yes |
| Corporation Tax Returns-CT600 | – | Yes | Yes |
| Submission to HMRC | – | Yes | Yes |
| Submission to Companies House | – | Yes | Yes |
| Year-end adjustments | – | Yes | Yes |
Self assessment
| Service | Personal Tax | Annual Accounts and Compliance | Finance Department |
|---|---|---|---|
| Personal tax calculations | Yes | Yes | Yes |
| Personal tax returns | Yes | Yes | Yes |
| Partnership returns | Yes | Yes | Yes |
Pricing
| Services | Fee (excluding VAT) |
|---|---|
| Self Assessment Return | £300 |
| Sole Traders accounts with turnover less than £50,000 | £450 |
| Sole Traders accounts with turnover between £50,000 and £100,000 | £800 |
Our fee is payable in advance. If a service is not based on a fixed fee, an invoice will be raised on an estimate and an adjusting invoice or credit note will be raised after the completion or at a reasonable point.
