- Tax compliance and tax planning for individuals, trusts and estates
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
• Income Tax and Capital Gains Tax aspects of Trusts and Deceased Estates
• Stamp Taxes
• International Tax issues
Paul is an expert in Self-Assessment and the requirement to keep records for tax purposes. He is registered with H M Revenue & Customs (HMRC) to file Self-Assessment Tax Returns online and uses up-to-date tax software for this purpose (which speeds things up). If you want help at your base, then he can come round to help you file your return online at a reasonable cost.
He has specialist books on Pensions and Tax, Employment Status, Business Asset Disposal Relief (formerly known as Entrepreneurs’ Relief), Only or Main Residence Relief, Residence (within the UK or outside it), the Enterprise Investment Scheme, Share Schemes, Tax Issues for British Expats, Discovery Assessments and Appeals to the First Tier Tribunal.
Paul has specialised in International Tax issues, eg when someone is planning to leave the UK and wants to rent out a UK property, when an expat is returning to the UK or when someone has arrived in the UK and needs to sort out tax liabilities in a country in which he/she was resident.
He helps clients with Capital Taxes Planning (re Inheritance Tax and Capital Gains Tax) and in setting up Trusts either during life (with the help of a solicitor re the drafting) or in a Will which he can personally write tailored to your specific needs. He helps individuals be the Executor/ Executrix/ Administrator of a Deceased Estate as he has extensive knowledge of Executorship and is very good at Income Tax and Capital Gains Tax compliance for Deceased Estates. 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 and any legal aspects which need to be addressed. He helps clients to complete their Tax Returns.
He is available to handle or advise on Self-Assessment Enquiries and both Civil and Criminal Tax Investigations started by HMRC. 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. He has recent experience with the special campaigns run by HMRC, eg the Let Property Campaign.
Paul is gradually coming to terms with how Universal Credit operates.
For individuals who are now not “well off” he is still able to add value in different ways, eg 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 from a book published by the Law Society. 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.
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. Should your tax arrears have become high and your case is either already with Enforcement Office or is later sent there, then Paul can 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 CPAG book, the Debt Advice Handbook. His advice is not restricted to tax debts, but can also include advice on other debts. His advice is charged on the basis of time spent; but, it is necessary to make a payment in advance. 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 firstname.lastname@example.org with your query. 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 to help you.