Our Services
Taxation Advice For Individuals

As tax legislation on personal income and investment becomes more complicated, everyone who is subject to tax needs professional advice. Simply completing your tax return on time is no longer sufficient. We offer dedicated wealth planning solutions, i.e. setting up in business and retirement, often in conjunction with our independent financial advisers.

We will help you to minimise your personal tax liabilities by planning income and gains. We can arrange an annual planning meeting to review you finances and suggest options to save tax. This planning may keep you out of paying higher rates of tax.

Personal Tax Returns

We can help you to prepare UK self – assessment tax returns, covering basic tax repayment claims to complex returns. We will calculate tax liabilities, liaise with H M Revenue & Customs and keep you informed as to when payments are due.

We would also look to efficiently mitigate tax liabilities and to advise on relevant tax planning solutions.

Capital Gains Tax

Whether you are looking to mitigate the rate of tax payable on disposal of chargeable assets, or are considering the impact of asset disposals on other taxes, we will guide you.

We can help by preparing detailed capital gains tax computations, liaising with Valuers and confirming the capital gains tax payable. We also advise on the availability of Rollover Gift Relief and Entrepreneurs’ Relief.

Working Abroad

UK tax may be payable on foreign income if you are working abroad depending on your residence status. If you are a non-UK resident then no UK tax will be due on foreign income. If you are a UK resident then generally you will be liable to pay UK tax on foreign income, although you may not be required to if you are non-UK domiciled.

If income is taxed in more than one country it may be possible to claim tax relief. We can advise on residence and domicile issues, letting UK property whilst abroad and selling assets whilst abroad.

Setting Up & Managing Family Trusts

We understand the importance of planning for your family’s future. Trusts may be set up to control and protect family assets or when the young are unable to manage their financial affairs. Appointing reliable trustees offers opportunities to manage your family’s assets in a tax efficient way.

We can advise on establishing a trust, prepare trust accounts, tax returns and provide planning solutions.

Retirement & Estate Planning

Decisions made at retirement will affect the income you receive for the rest of your life. You need to ask questions such as:

Do you need all your tax free pension lump sum immediately? And do you require control over the investment of your pension fund?

We have qualified advisers who can provide lifetime cash flow and financial planning. Ellacotts provides comprehensive estate planning to include establishing the availability of inheritance tax reliefs.
We would love to hear from you!
Book a free meeting with us today.

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