Personal Tax Management

Personal Tax Management (PTM) is a practice of professional, efficient and experienced Tax Advisers, providing a friendly and supportive service to our clients, who are made up of Private Individuals, Companies, Trustees etc. We also advise fellow professionals such as Solicitors and Stockbrokers.

We pride ourselves on the high level of service we have provided to our clients, both past and present.

Our advisers, supported by our dedicated administration team, provide a broad base of expert knowledge and specialise in the areas of Personal Tax Compliance, Income Tax, Inheritance Tax, Capital Gains Tax and Estate and Trust Taxation.

Trusts and Estates

The setting up of Trusts can be complex and it is vital to ensure that the correct type of Trust is chosen. Once set up, care needs to be taken to make sure that it is administered correctly and compliant with relevant HMRC regulations.

Our specialists can advise as to which type of Trust would be most appropriate. We can register the Trust with the Revenue and once this is done, we will complete the necessary annual Tax Return, calculate the amount of tax liability due and undertake tax planning to mitigate this.

We also act for individuals with Enduring Power of Attorneys.

Inheritance Tax

Inheritance Tax is normally paid upon death and relates to the value of property and assets held within the Estate of the deceased party. It also relates to certain types of lifetime gifts and certain Trust assets.

Historically, Inheritance Tax generally only applied to those whose Estates were very large, however, in recent times, the growth in property values has meant that this is no longer the case. If your property and assets add up to more than the personal exemption when you die, then your Estate will probably be due to pay Inheritance Tax. With the rate of tax currently set at 40% this can be considerable.

With careful planning, however, these liabilities can be reduced, or even eradicated. Our service will assess the amount of tax that would be due on your Estate and advise you on the best ways to reduce the amount of tax payable.

Income Tax and Compliance

Many people are required to complete annual HMRC Self Assessment forms. Individuals, Company Directors, the Self-employed, Partnerships, Small Businesses and Trustees or Personal Representatives must complete these forms within the allotted timescales, even if no tax is due to be paid. We act for clients in all areas.

Self Assessment can be complicated and time consuming, which is where our expertise can help. We can complete the forms, calculate any tax liability and advise when payments are due. We will also liaise with HMRC on your behalf.

We undertake tax planning on your behalf and advise on mitigation, in order to maximise reliefs, allowances and exemptions to reduce the amount of Income Tax due.

Capital Gains Tax

Capital Gains Tax is potentially paid when an Individual, a Company or other legal entities (such as a Trust) sell, or transfer an asset, at a profit that exceeds the annual exempt threshold.

Although Capital Gains Tax does not apply when you sell your home or car, it does apply to the sale of other property, land, shares, businesses, expensive antiques and jewellery, amongst other things.

Calculating Capital Gains Tax can be both complicated and confusing. We can provide advice on the amount of tax payable, either before or after any assets are disposed of and can recommend ways to take advantage of the reliefs and exemptions available that would minimise or possibly prevent any liability being incurred. We will also negotiate with HMRC over values, if the need arises.

kingston-solutions.com

Trusts and Estates

Inheritance Tax

Income Tax and Compliance

Capital Gains Tax

Latest News

Newsletter

Tax Options

About

Kingston PTM Ltd is authorised and regulated by the Financial Services Authority. Kingston PTM Ltd is entered on the FSA Register (www.fsa.gov.uk/register) under reference 209429.

The FSA do not regulate Will Writing, Personal Loans, Trusts, Commercial Loans, Tax planning, National Savings products, utilities, book sales and some forms of mortgage.

The advice and / or guidance contained within this site is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.

Personal Tax Management and Kingston IFA are trading styles of Kingson PTM Ltd.

VAT No: 936052235.

Search The Site

Latest News

More Options