Personal Tax/Income Tax (Including Sole Traders and partnerships)

If you are an individual and carrying out trade as a sole trader such as

• You are a self-employed
• You receive income from Investments, Savings, or property
• Renting property,
• earning investment income or
• income from dividends,
• Annual income is £100,000 or more; you need to pay income tax and file a self-assessment return. You will also need to file a Tax return
• You claim certain expenses or reliefs
• Any of you or your partner receive child benefits and your income is over £50,000.
• You receive income from overseas
• You receive income from trusts, settlements, and estates
• You get capital gain and Tax to pay

Experts of Personal Tax at Groupacc Taxation keep track of your sources of income and plan ahead to save you from high tax bills. Experts at Groupacc Taxation advise you on efficient Tax planning and try to take all available reliefs. We register you for Self-Assessment with HM Revenue & Customs, submit Self-Assessment Tax Return every year before the deadline of 31 January if submitted online.

At Groupacc Taxation, our clients are advised by a specialized partner in Personal Taxation. We advise and educate them with the type of expenses they can claim for Tax Relief (related to your trade or work). We analyze, complete, and submit their self-assessment Tax Return and advise on the most appropriate trading structure.