PERSONAL INCOME TAX
by Applegate Accountants, Cheshire

Call us now for Personal Income Tax Assistance Do you dread your personal income tax return landing on your doormat - put it to one side and think I will deal with it later only to find the January deadline arrives all too soon.

Let Applegate & Co., Frodsham, Cheshire take the worry away. HMRC are putting more emphasis on the tax payers individual responsibility. We therefore believe everyone who is subject to tax should seek professional advice and support.

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We can advise you on:-

. Income Tax
. Capital Gains Tax
. Inheritance Tax

We will complete your personal income tax returns and file them on time, advising you of what you need to pay and when. We work very closely with an ex tax inspector who can optimise your tax position and can advise on:-

How to minimise CGT liability on disposal of assets.
How to best handle benefits in kind, i.e. Company Cars.
Whether directors should be paid salaries or dividends.

Personal Income Tax We will also attend any meeting with you should HMRC decide to investigate. When the word 'tax' is mentioned most people probably think of income tax (if they can bear to think of tax at all). Income tax is only one of the forms of taxation that is used to collect money for use by the UK government, but it does impact on a large proportion of the UK population.

The authority to impose taxes comes from two sources. The first is legislation passed by parliament, known as 'statute law'. You may have heard of the 'Finance Acts'. These are generally published each and give details of any changes to taxes. These changes have been proposed by the Chancellor of the Exchequer (usually in the budget) and passed by Parliament.

The second source of tax law is called 'case law' and arises from decisions taken in court cases. Taxation can be very complicated and sometimes disagreements between HM Revenue & Customs and taxpayers result in court cases. The final outcome of such cases can then become 'case law' and influence future interpretation of statue law.

Although there is a substantial amount of both statue law and case law that governs the UK tax system, we endeavour to keep you up to date with the latest information.

Income tax is divided into various categories for tax purposes, depending on what sort of income it is and where it comes from determines the tax that is paid. The basic categories are as follows;-

Property Income - Rental income from properties and land
Trading Income - Income from self employed earnings
Savings & Investment Earnings
Employment, pension and Social Security Income

PERSONAL INCOME TAX by Applegate Accountants, Cheshire

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PERSONAL INCOME TAX
by Applegate Accountants, Cheshire