Personal tax covers income tax, National Insurance contributions (NIC) and capital gains tax, but it’s not always easy to manage.

Dickson and Co Chartered Certified Accountants’ expert team has dealt with personal taxes for over 29 years and can help you manage them confidently with our range of personal tax services.

Our services cover everything from business accounts, tax calculations and claims for sole traders and property income to self-assessment tax returns, tax liability calculations and claims for individuals and couples.

Understanding how to handle your personal taxes correctly is crucial because mistakes can lead to underpaying or overpaying taxes or even potential HMRC penalties.

Talk to Dickson and Co Chartered Certified Accountants for professional support with your personal taxes.

Here’s what we can do:

Sole traders and property income

If you’re a sole trader or have property income, you must submit a self-assessment tax return to show your income and expenses.

Ensuring your business accounts are correct and follow the latest financial reporting guidelines helps make tax return calculations accurate. Understanding and applying accounting standards can be confusing, so it’s a good idea to speak to a financial advisor for guidance.

Sole traders and those with property income can minimise costs using several tax relief options. However, knowing if you can expense certain costs, such as your internet or heating, can be tricky because you can only claim for the business costs of these utilities.

Dickson and Co Chartered Certified Accountants/We can:

• Create business accounts in line with accepted accounting standards using the information you provide us.
• Complete and submit self-assessment tax returns.
• Calculate income tax, NIC and capital gains tax.
• Advise on tax claims and elections.

Individuals and couples

If you need to submit a personal self-assessment tax return, your tax liabilities must be accurately calculated so that you know what you owe and when to pay it. If you’re unsure if you need to complete a tax return, check the latest HMRC guidance and get expert help.

You can claim tax relief on some job expenses, such as computers and uniforms. It’s worth remembering the rules around tax-related claims, including ensuring items are only used for work before making any claims.

Inaccuracies in your tax return can trigger an HMRC investigation. If you find yourself in this situation, getting professional advice on responding to enquiries is important to resolve issues quickly.

Dickson and Co Chartered Certified Accountants/We can:

• Prepare and submit self-assessment tax returns.
• Calculate tax liabilities and advise on tax-related claims and elections.
• Provide guidance on ad hoc transactions and dealing with HMRC enquiries.

Get in touch with Dickson and Co Chartered Certified Accountants, and get started with your personal taxes.