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Tailored Personal Advice for Individuals: Tax on Income, Capital Gains Tax & Inheritance Tax

We offer a wide range of accountancy and tax advice services for individuals with personal accounting needs, in a variety of areas including Income Tax, Capital Gains Tax and Inheritance Tax.

Our Personal Accounting service involves collecting all the required information from and for you, performing the tax calculations and submitting the information online.

In the UK, Self Assessment Personal Tax return (or SA100) must be filed with HMRC by an individual in the following circumstances:

  • If you are a director of a limited company
  • If you have income where tax was not withheld at source e.g. rental income or capital gains on your savings and investments

Income Tax

Most employees pay tax under PAYE system and are not required to file a tax return as the PAYE system operates to withhold the correct amount of tax from wages or salaries.

However, you will be required to make your Tax Return if you also run a business or are set up as a Sole Trader with the HMRC. ATA can advise you and provide a hassle-free, cost-effective service if you need to make a Tax Return.

Capital Gains Tax

By careful planning, your tax liabilities can be kept to a minimum. If you own a limited company, are a sole trader or a partner in a business, we can help you ensure you are drawing down monies from your company in the most tax-efficient way.

Capital Gains Tax is levied on the increase in value of an asset. It can arise on a gift or a disposal of a chargeable asset including land and buildings, shares and unit trusts, business assets, expensive jewellery, paintings and antiques.

Many of our clients are surprised to learn that not all assets are liable to Capital Gains Tax. Helping you navigate your way through the range of exemptions and reliefs that you can take advantage of is one of our key services, such as:

  • Use of the annual capital gains tax exemption. (For jointly owned assets, both spouses/civil partners will each have the annual exemption available);
  • Transfers between husband and wife/civil partners;
  • Entrepreneurs’ relief on business assets;
  • Trust fund management.

Our accountancy service and advice helps you calculate your exposure to Capital Gains Tax, providing you with options for restructuring your affairs accordingly.

Inheritance Tax

We already help many clients to make the future more certain for their family members. To be successful, assiduous Inheritance Tax planning is needed to make sure you pass on the maximum amount of your wealth and assets to you family.

Inheritance tax affects gifts made both in lifetime and on death. It is advisable for individuals to start inheritance tax planning as early as possible to try to reduce their ultimate inheritance tax liability.

Lifetime Inheritance Planning

Our specialist advice helps you make sensible inheritance tax plans that will go a long way to reducing this tax burden. Our service is tailored to the best course of action based on your current circumstances and on present tax rules. This includes:

  • Advising on making gifts free of inheritance tax during lifetime;
  • Utilising reliefs available to increase the value of any gifts;
  • Using trust structures where appropriate;
  • Advising on the structure of family businesses;
  • Advising on tax efficient clauses in wills;
  • Use of family limited partnerships.

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