Personal Tax
Personal Tax Service
Managing personal taxes can be complex and time-consuming, but NMA Accountancy & Taxation Advisors offers expert guidance to help you navigate the intricacies of UK tax laws. Our comprehensive Personal Tax Service is designed to ensure compliance, maximize tax efficiency, and minimize liabilities for individuals, families, and trusts.
Capital Gains Tax Advice
If you own an asset that has increased in value, you may be liable to pay capital gains tax (CGT) when you sell it. NMA Accountancy & Taxation Advisors provides expert advice to help you manage and optimize your capital gains tax liabilities.
What is Capital Gains Tax?
Capital Gains Tax is levied on the profit you make from selling or disposing of an asset that has appreciated in value. The tax applies to the gain, not the total sale amount.
Who Pays Capital Gains Tax?
Individuals, trusts, and companies are liable for CGT when they sell, transfer, or gift an asset or property, whether tangible or intangible. Those liable for CGT benefit from an annual tax-free allowance called the “Annual Exempt Amount,” and only pay CGT on gains exceeding this threshold
How to Maximize Your Annual Exempt Amount
There is a standard annual exempt amount for:
- Most UK residents
- Executors of an estate
- Trustees for individuals who are registered disabled
With careful planning and expert advice, it is possible to reduce your CGT bill to zero. Our team of tax specialists can help you navigate the complexities of capital gains tax planning.
Additional Personal Tax Services
- Income Tax Planning: Optimize your income tax situation by taking advantage of available reliefs and allowances, ensuring you retain more of your earnings.
- Inheritance Tax Planning: Protect your estate for future generations by effectively managing inheritance tax liabilities through strategic planning and advice.
- Trust and Estate Management: Ensure your assets are managed according to your wishes and efficiently structured to minimize tax exposure.
- Self-Assessment Tax Returns: Simplify the self-assessment process with our expert assistance in preparing and filing accurate returns, avoiding penalties, and maximizing potential refunds.
- Pension and Retirement Planning: Develop a robust retirement strategy that aligns with your financial goals, including tax-efficient pension contributions and withdrawals.
Why Choose NMA Accountancy & Taxation Advisors?
With over 16 years of experience, our team has a deep understanding of the UK tax system and is committed to providing personalized services tailored to your unique financial situation. We stay updated on the latest tax regulations to offer proactive advice and solutions that enhance your financial well-being. Contact NMA Accountancy & Taxation Advisors today to learn how we can assist you with your personal tax needs, ensuring peace of mind and optimal financial outcomes.
Download Resources
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Company Briefing Update for the Year
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Company Briefing Update for the Year
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We are a team of accountants dedicated to helping small business owners and entrepreneurs navigate their finances and tax matters with expert advice and tailored solutions. Our focus is on providing personalized service to meet the unique needs of each client.
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