Paying tax is something we all have to do, though it isn’t always favoured. If you’ve ever had to use HMRC’s tax helpline, then you’ll know it can be a real challenge from time to time. So why not make it easier by handing over the task to one of our accountants?
With our accountants handling your taxes, you’ll benefit from a much faster and simpler process and can also save some money.
Welcome to Daniel Wolfson, taking care of your Self-Assessment tax returns
Are you struggling to manage your personal finances? Are late filing penalties causing you to lose sleep? We understand that managing taxes at a personal level can be complicated when you have so much on your plate.
But don’t worry – Daniel Wolfson offers a full personal tax return service. We will make sure that your Self-Assessment tax returns are handled precisely and expertly. Our goal is to make the process as simple as possible, allowing you to manage your taxes efficiently.
Contact Daniel Wolfson today to learn more about our tax services.
What is personal tax?
Personal tax, often referred to as Income Tax, is a fee you pay to HMRC based on the amount of money you earn. It applies to many different sources of income, including salary from employment, self-employed profits, rental income, pensions, and interest from investments.
Whether you earn some money on the side from renting out property or are entirely self-employed, we’ll help you understand your tax liability and prepare your personal tax returns for you.
What taxes does personal tax cover?
Individuals pay taxes based on their income, gains, and other financial activities. Understanding these taxes is important not only to keep you on top of your financial obligations but also to help you plan for your future.
Income Tax
One of the most common types of tax is Income Tax, which is directly paid on your income or earnings. It is usually paid on salary-based income but can also be deducted from property income, business earnings, pensions, and money from investments.
Capital Gains Tax
Capital Gains Tax (CGT) is charged on the profit made from selling assets such as buy-to-let property, second homes, stocks, or other investments. If you plan on selling a rental property or business assets, Daniel Wolfson will help you find the possible reliefs that could reduce your tax bill.
It’s important to note that if you’re selling your main home, you are usually exempt from paying Capital Gains Tax because you didn’t buy it with the intention of making a profit. This is dependent on meeting HMRC’s criteria.
Rental income
Any revenue earned from renting out property is taxable. This includes buy-to-let, holiday homes, and commercial properties. Filing rental income involves a lot of work. There are opportunities for big tax savings, but it can be complicated. We’ll help you make the most of any deductable expenses and allowances that could reduce your tax bill.
Inheritance Tax
When loved ones pass, and their properties are given to family, there are often tax obligations to contend with. Inheritance Tax is a type of tax that gets passed on when someone dies. Thinking about the tax implications of inheritances long before they are due is always a good idea.
Our personal tax return service
At Daniel Wolfson, our tax return service is intended to help you with all aspects of your tax return. From gathering the essential information to drafting and filing your Self-Assessment tax return, we make the process as stress-free as possible.
We like to take a holistic approach to tax and accounting. This means we look at your financial situation as a whole, not just the service you pay for.
We’ll look at all of your income streams, including employment or self-employed earnings, investments and any property you might have. We’ll also consider your immediate and long-term goals and take a look at previous years to make sure your tax returns are working in your favour and help you save money.
Here’s how our tax return service helps you:
- We’ll gather all tax documents, including proof of income, expenses and receipts
- We’ll calculate how much tax you owe and identify relevant deductions and reliefs
- We’ll file the tax return electronically using the latest accounting software
- We’ll handle the submission so everything is on time and compliant
- We’ll help you understand your tax position and make informed decisions
Why choose us for your tax return?
At Daniel Wolfson, we are committed to making sure your tax returns are easy to file without any hassle. We have experience dealing with complex tax issues.
Here’s what makes our services stand out:
- Innovative and technology-driven firm
- Holistic approach to tax and accounting
- Focused on the client’s needs
- Open and honest about our knowledge and services
- High standard of excellence in everything we do
Complete Your Tax Return with Daniel Wolfson
Managing your tax affairs can be stressful. Let us take the worry. Our full tax return service covers everything on your behalf, from preparation to filing. Whether you’re concerned about compliance or want to maximise your investments, we have the tools and experience to help.
Contact us today to speak to an experienced tax advisor and learn how our services can help you manage your personal tax affairs.
