Individual Services
Compliance Services
When considering what services do I need, the starting point is what must I do to comply with the tax legislation. There are many reason why you MUST complete a self-assessment tax return and Price Davis offer a comprehensive personal service for guiding you through every step and completing your self-assessment return on your behalf.
Our compliance services for individuals help you to deal with your legal requirements.
Basic Tax Return
The main pages of the tax return require you to enter your savings and investment income, pensions and state benefits and claim any reliefs for pension payments, donations and allowances.
Employment
For every separate employment you had you must complete additional pages to provide details of income, benefits in kind and deductions made against your employment income.
Self-Employment
You will need to submit details of your business profits from the relevant year’s annual accounts. You may want to look at our business services if you want help preparing your year end accounts. We can do this for you.
Partnership
You will need to submit details of your business profits from the relevant year’s partnership annual accounts. You may want to look at our business services if you want help preparing your year end accounts. We can do this for you.
UK Property
If you have one or a portfolio of properties that you rent out then you must prepare rental accounts to show gross rents and allowable expenses. With recent changes in legislation it’s good to get the best advice on what you can claim and how you can offset any losses.
Foreign Income and Gains
If you are resident in the UK then you must submit information on your worldwide income. We can help you identify what needs to be taxed.
Non UK Resident or Domiciled
If you are not always based in the UK, not a UK citizen or moving around the world then you will need to consider what impact this has on your UK tax position and how income coming into the UK will be taxed.
Tax Computations and calculations
If you do not want HMRC to calculate your tax liabilities then you must make these calculations yourself. Price Davis can calculate all your tax liabilities from Income Tax to Capital Gains Tax and everything in between.
Capital Gains
If you have sold assets ranging from shares, a business, land and property or even personal property, then you need to consider if the values involved require disclosure of any gains you have made
Added Value Services
Once you know you have complied with all your legal requirements you may want to start being proactive and planning ahead for your tax affairs. Price Davis can offer these added value services.
Remuneration Planning
Why not look at how to extract profits from your business in the most tax efficient way and plan your income stream from your business.
Inheritance Tax Review
It’s always good to consider how what your current estate looks like in value and how much tax would be lost from the estate. This is good place to start in planning your strategy for the benefit of your loved ones.
Pre-Sale Capital Gains Tax planning
It’s no good planning your tax bill after you have sold an asset. If you have a second home for example it is vital to get good advice before you even consider marketing it for sale. You will be amazed at how much you can save with the right advice.
Tax Record Keeping
Because Price Davis forge long term relationships with their clients we offer a full record keeping service where all your tax information is in one place. Every property purchase and every income item is recorded so that when the day comes to sell those shares or that property the whole history is accessible and the tax liability can be worked out quickly. Great for planning your tax liability and running some what if scenarios!