Tax returns services
Covering all bases
When we use the broad term ‘tax return services’, it stands to reason that most people think about self-assessment or VAT returns. After all, they’re the most common. But there are other UK taxes that may require you to file a tax return, too.
Taxing your gains
Whether buying a new home is on your radar or you’re a buy-to-let landlord planning on expanding your portfolio, you might need our help before you complete those purchases to beat the strict reporting deadlines.
If you make a gain on the sale of a home or high-value asset, you’ll only have 60 days from the transaction to pay any capital gains tax. You’ll also have to include any gains on your self-assessment tax return.
Stamp duty on your new home
Capital gains tax isn’t the only thing to consider when buying a property. If you pay over a certain amount on a property in England or Northern Ireland, you’ll also have to sort out any stamp duty land tax you may owe HMRC. (Or its equivalent in other parts of the UK.)
The thresholds for stamp duty vary depending on whether the property is bought for residential or business purposes, and it must be reported within 14 days of the deal’s completion. The timeframe to complete a stamp duty return and pay HMRC is tight, especially if you’re moving into your new home at the same time. We’ll make sure this exciting time in your life isn’t overshadowed by admin and tax. We can do it all for you.
Helping you during the harder times
While your obligations to HMRC can rear their head at the happier moments in your life, they can appear during more difficult times, too. When someone close to you dies, you’ll have a lot to contend with in terms of grief and, sadly, legal paperwork.
Unfortunately, this becomes more complicated when you need to report and pay inheritance tax on your loved one’s estate. This becomes even more complicated if the person who died has any outstanding debts, complex assets, or if their estate significantly surpasses the inheritance tax threshold.
To report any tax on the estate, you’ll need to register on the HMRC website and fill out a specific self-assessment tax return. This is where we can help. We don’t think you should have to endure any more stress than you already are at this time. Let us help you with our inheritance tax return services, so you can focus on supporting your family.