Getting good advice on tax doesn’t need to be difficult. If you are unsure of your tax obligations, whether you are liable to pay tax or not, and how much, then good tax advice is worth paying for. Our team of qualified and experienced tax specialists at The Taxman UK can advise you on all of this and fill in your UK tax return for you as well. This means you can save a lot of time, money and stress.
Tax return forms, rules and regulations may look long and complicated but a good professional tax advisor can do the job for you quickly and efficiently. Even if you live outside the UK you usually have to pay tax on income you generate in the UK even if you are not a UK resident. Income that you usually have to pay tax on includes; wages, interest on savings, rental income, income from a trust, your pension or any gains you make when you sell an asset. You will be eligible for a personal allowance on the first £12,500 that you earn unless your income exceeds £100,000 and some of your income may also be tax-free including income from Individual Savings Accounts (ISAs), premium bonds and dividends from company shares.
Paying tax once is necessary but paying tax twice can sound daunting. The country where you live overseas might tax you on your UK income. A good tax advisor can advise you on a double-taxation agreement’ with the UK and show you how to claim tax relief in the UK to avoid being taxed twice. If you live abroad and are employed in the UK, your tax is calculated automatically on the days you work in the UK. A good tax advisor can talk you through all the options and do the calculations for you too, then fill in your tax return.
A good professional tax advisor will report your income to HMRC for you, tell you when and how much to pay and even send you reminders in good time so that you don’t forget. If for some reason you think or you find out that you have overpaid you can apply for a refund. This can happen if tax is being automatically deducted from your bank account when your total UK income is less than your personal allowance. Getting professional help from a good tax advisor will save you time, money and stress and will also help you to find ways of paying less tax depending on your individual circumstances.