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Tax compliance and tax planning for individuals

Every individual has unique financial circumstances and unique needs and associated requirements for professional services. Paul Steward is able to advise about every type of personal tax, including:

•    Income Tax
•    National Insurance Contributions
•    Capital Gains Tax
•    Inheritance Tax
•    Stamp Taxes
•    International Tax issues
•    Tax Credits

Paul is an expert in Self-Assessment and the requirement to keep records for tax purposes.  He is registered with H M Revenue & Customs to file Self-Assessment Tax Returns online.  If you want help at your base, then he can come round to help you file your return online at a reasonable cost.

Paul has specialised in International Tax issues, eg when someone is planning to leave the UK and wants to rent out a UK property or when someone has recently arrived in the UK and needs to sort out tax liabilities in a country in which he/she was resident for some time.

He also undertakes Capital Taxes Planning for wealthy individuals and can write a Will which is efficient from the viewpoint of Inheritance Tax.  Clients often find Capital Gains Tax (CGT) difficult to understand and ask advice about planning so as to know the reliefs available to mitigate CGT due.

He is available to handle or advise on Self-Assessment Enquiries and both Civil and Criminal Tax Investigations started by H M Revenue & Customs.  Clients are often pleased at the speed with which progress can be made for an Enquiry so as to close it down and agree a settlement with HMRC.

Paul has been on a number of courses run by the Child Poverty Action Group relating to Tax Credits.  He tends  only to become involved with Tax Credits where there is either a technical issue needing to be resolved or where a significant amount of money is at stake, eg a large overpayment is being sought to be recovered by H M Revenue & Customs, or incidentally to ‘mainstream’ tax advice.

For individuals who are currently not “well off” he is still able to add value by preparing a Will.  He is also available to advise on the management of debts and give debt counselling where there is at least one asset which may take time to dispose of.

1)    Preparation of a Will; Executorship and Trusteeship services

Writing a Will is essential if your estate is to be passed on to your beneficiaries in the manner you intend rather than according to the intestacy rules.  Paul can write your Will using Precedents. In connection with this he is happy to visit you in your home or in a hospital if requested.  Any Will validly signed by its creator and adequately witnessed can be stored in the safe at his office.  He can also provide Executorship and Trusteeship services if these are needed.

2)    Debt counselling

Paul offers advice and help in managing debts – especially those debts related to tax, which your local Citizens Advice Bureau is not ‘cut out’ to deal with.  He is able to deal with cases where more than one Tax Return is outstanding and tax arrears have built up.   He is experienced at dealing with Collectors of Taxes at Accounts Offices and at a local level.  Should your tax arrears have become high and your case is either already with Enforcement Office or is later sent there, then Paul is able to liaise with officials there to seek a solution, eg to make a Special Relief claim to reduce determinations which have already been issued by HMRC.

He is able to discuss with you your different options in dealing with your debts following the guidance in the Child Poverty Action Group book, the Debt Advice Handbook.  His advice is not restricted to tax debts, but can also include advice on other debts,eg credit card and Council Tax debts. His advice is charged on the basis of time spent on your financial affairs, but it is necessary to provide financial security for this service, eg making a payment in advance which may later be refunded in part. This advice is not too costly – especially as his insights can be delivered in minutes and can save a significant amount of money, eg as reduced interest payments, or in keeping the costs of lawyers and insolvency practitioners to a minimum.  Often individuals don’t know where to start in tackling debts, which is why a little professional input can lead to improved finances in the medium term.

If you are an individual with any sort of personal tax, personal finance or Will writing need, please contact Paul Steward on 020 8870 2323 to find out how he can help you.  Alternatively, you can e-mail him at paul@psteward.co.uk with your query.  Please note that he is not authorised to give advice on which type of mortgage or pension it is best for you to take out.  For such advice you should contact an Independent Financial Adviser, who will be able to help you.