Personal Tax

When you work as hard as you do, it’s only fair that the wealth you have created benefits you.

Ensuring that you are not paying too much of that wealth back in tax is important. This is why a review of your personal tax affairs is key. Our friendly team of personal tax experts at Alexander & Co will provide you with strategic tax planning advice, so you can make the most of the current opportunities in the tax system.

Personal Tax Advisory and Planning

We will help optimise exemptions and tax relief, tailored to your personal circumstances, whilst making sure that you remain compliant with the tax rules. This will help to ease the impact of any potential turbulent economic conditions. We can advise on personal taxes, including:

Many of these areas are related to one another, therefore any decisions made are likely to affect more than one aspect. We work with you to plan effectively for your taxes.

Speak with a Personal Tax & Planning Advisor

Trust and Inheritance Planning

A number of our clients have trusts that have been created for a variety of reasons.  Trusts are not only used for tax planning, they are also used for asset protection.  Trusts can be an effective way to set aside assets for future recipients outside the inheritance tax net in the right circumstances. Alexander & Co assist by:

  • Working with you to see if trust planning is an effective solution for your requirements
  • Notifying HMRC of the trust’s creation for inheritance tax, capital gain tax and income tax purposes
  • Preparing the 10-year inheritance tax returns for trusts on suitable anniversaries
  • Preparing capital gains tax and income tax returns and supplying tax information to beneficiaries
  • Advising on the inheritance and capital gains tax implications on the creation of trusts and claiming any reliefs

Speak with a Trust & Inheritance Advisor

Partnership Tax

In business partnerships, all partners are responsible for complying with self-assessment rules. This is both as individual self-employed taxpayers and for the partnership.

Our highly skilled, experienced personal tax accountants will help lighten the burden of tax compliance for partnerships, allowing you to focus on your business. We will provide guidance, advice, and support in the following areas:

  • Advice on VAT registration
  • Allowable business expenditure advice
  • Preparation of both personal and partnership tax returns
  • Tax considerations in relation to partners leaving or joining the partnership

Speak with a Partnership Tax Advisor

Employee Share Schemes

Employee share schemes (also called employee share plans) are incentive arrangements provided by employers to motivate and reward key employees.  Such arrangements can be highly beneficial and motivating to employees and drive growth into a business.  Shares are either rewarded directly by the employer or awarded via a form of shares scheme put in place by the employer.

Professional advice should always be obtained for the tax position of shares transferred to employees, as it’s a highly complex process. Our personal tax accountants are vastly experienced in employee share schemes, so do not hesitate to get in touch today.

Speak with an Employee Share Schemes Advisor

Property Tax Advice

Owning a second property (or more) to rent out is giving rise to an increasing number of tax issues. These individuals will be subject to income tax on any rental income, as well as capital gains tax on any gains following the disposal of the property and additional Stamp Duty Land Tax on the purchase of additional properties

Here are just a few points to be considered:

  • The Government has recently introduced a whole raft of legislation that can give rise to additional tax charges on additional properties.  Landlords should urgently review their ownership structures, finance arrangements and tax positions in light of these changes
  • Identifying capital costs of acquisitions, improvements and disposal to minimise any capital gains on disposal
  • Quantifying which expenses can qualify as tax deductions for repairs or replacement items
  • Maximising relief for tax allowable expenditure

For further advice regarding your personal properties, do not hesitate to get in touch.

Speak with a Property Tax Advisor

Tax Relating to Divorce

In the midst of a divorce, tax probably isn’t high on your list of priorities. However, it’s important not to underestimate the impact of taxation on the final settlement. Seeking advice on the UK tax implications of divorce, separation, or any proposed settlement at the earliest opportunity is imperative.

By planning a divorce settlement with care, you should be able to minimise the tax cost of transfers under the divorce settlement.

Make sure you read our blog on how a forensic accountant can help with a divorce. If you require any more advice regarding tax and your divorce, get in in touch with one of our friendly team members.

Speak with a Tax Relating To Divorce Advisor

Cross-Border Tax Planning

We live in a very global society and people now have personal and business interests in multiple countries.  Whilst it is advisable to seek local tax advice in each country, we have a number of clients that we have assisted in efficiently managing their UK tax affairs in relation to cross-border interests.

Speak with a Cross Border Tax Planning Advisor

Entrepreneurs’ Relief

Entrepreneurs’ relief is one of the most important tax reliefs available.  

It reduces your tax rate to 10% on the disposal of certain trading business interests or shares in trading companies.

At Alexander & Co, we can help to try and make sure that this relief is available to you, by helping set up your business in the right way and then keeping you within the rules.

Speak with an Entrepreneurs Relief Advisor

News

What happens if you miss the self-assessment deadline?
The self-assessment deadline is upon us and your self-assessment will be due by the 31st January. To avoid… Read More
Self Assessment Late Payment Penalty
The Disciplinary Process, The Right Way | Wednesday, 23rd January
On Wednesday 23rd January, we will be joining ELCONS (Employment Law Consultants Ltd) for their talk on the… Read More
How will Making Tax Digital benefit you and your business?
The Making Tax Digital scheme has been in the pipeline for a number of months now and in… Read More
Making tax Digital Benefits

Testimonials

Mike Lyons Financial Director – AKW Group PLC
"A reliable, smart, accurate and efficient service.  We have been using the Alexander & Co payroll bureau for… Read More
Daniel Weidenbaum Group Finance Director Trumeter Technologies Ltd
We decided to transfer our Audit this year to Gary Kramrisch and his team at Alexanders and having… Read More
Andy Beswick Vinyl Compounds Ltd
We were introduced to and appointed Alexander & Co as our auditors during the past year, their audit… Read More

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close