Services for
Individuals
IT’S NOT JUST THOSE PEOPLE IN BUSINESS THAT NEED TO DO A TAX RETURN.
We cater for individuals who receive income from dividends, rental properties, savings, those who are company directors and people who have capital gains, for example from selling a second property.
Capital Gains Tax
Rental Income
Higher Income Child Benefit Charge
Checking Coding Notices
Advice on Tax Treatment
Help with Tax Credit Forms
Self-Assessment Tax Returns
KEY INFORMATION
Individual
Self-Assessment is not just about self-employment and there are lots of circumstances when you might require our assistance even if you are not self- employed or a director in a limited company. We also prepare tax returns for individuals and for trusts and estates.
Capital Gains Tax (CGT)
Our team of experts can calculate any tax due on capital gains through sales of your investments (shares, property, etc).
If you are unsure on whether your income falls into either of these categories we can advise you.
Rental Income
If you rent out a property, the rental income you receive will be taxable. Expenses incurred such as gas safety certificates and general maintenance of the property will be deductible against the income.
We can provide you with rental accounts and calculate any tax due whether it is for one flat or for a portfolio of properties. There are exceptions, for example, if you have a lodger living in your house you will qualify for the rent-a-room allowance which may cover all of the rent received.
Higher Income Child Benefit Charge
Introduced in 2013, this new charge requires all individuals who earn over £50,000 per year and are in receipt of child benefit, be it paid to themselves or their partner, to register for self-assessment.
The charge reduces the amount of child benefit a couple is entitled to on a sliding scale where the income of one partner is between £50,000 and £60,000.
Any deemed overpayment of the benefit is collected through the self-assessment system. If one partner earns over £60,000 per year, the charge will match the amount of Child Benefit paid in the year, and it may be best to de-register for child benefit.
All of these services can be taken care of by the team at Emma Pickles Accountants.
Latest INSIGHTS
Class 4 NICs who is liable?
Most self-employed people are required to pay Class 4 National Insurance contributions (NICs) if their profits are £12,570 or more a year.
Class 4 NIC rates for the tax year 2024-25 are 6% (2023-24: 9%) for chargeable profits between £12,570 and
Post Transaction Valuation Checks
A Post Transaction Valuation Check (PTVC) can be requested from HMRC for an individual to work out a capital gains tax liability or for companies to calculate corporation tax liability on chargeable gains. The request for a PTVC should be made using
View and prove your immigration status
A UK Visas and Immigration (UKVI) account can be used by eligible users to view and prove their immigration status online. This may be required to provide proof of your status to employers or higher education providers.
The service can also be used