International accountants
Personal Tax
Need personal tax advice? We can help.
What is Personal Tax?
If you earn money from your income, savings, pensions, or various other benefits, you need to pay personal tax. The last thing we want is for you to stress about the finer details of this, or worse receive a penalty for not complying correctly. Chat to us and discover how our personal tax services can help you prepare and submit your personal tax returns.
Tips on Personal Tax
How do I set up a Personal Tax account?
This can be done on the HMRC website. When setting up your HMRC personal tax account you will need your P60 and national insurance number.
When is Personal Tax due?
The personal tax deadline is midnight on 31st January the year after your tax year ends.
What is a Personal Tax allowance?
Personal tax allowance is the amount of money a person can earn that is free from tax. For example, in the year 2020-2021 the personal tax allowance was £12,500. This means you would not have been taxed on any earnings below £12,500 and would have been taxed on earnings above £12,500. You must make sure you are eligible for personal tax allowance, talk to us to find out more.
How long do I have to keep Personal Tax records for?
HMRC advises: “you must keep your records for at least 5 years after the 31st January submission deadline of the relevant tax year. HM Revenue and Customs may check your records to make sure you’re paying the right amount of tax.”
International accountants
Why choose us as your Personal Tax accountant?
Of course you can do your personal taxes yourself, but if you are finding them mind-boggling or are simply too busy, Thomas & Co are here to support you.
We can help you set up a personal tax account with HMRC, keep on top of tax deadlines, advise on record keeping, keep you up to date with your personal tax allowance, calculate your personal income tax rate, and much more.
Personal tax accounting does not have to cost the earth, we calculate our fee on a case by case basis, depending on your needs. Get in touch for a free quote.
Not Your Everyday Accountant
We are invested in you. Is there something worrying you?
Let us take away the pressure so you can focus on the bigger picture, growing your business. Got concerns about that too? Ask us, our expertise helps you plan for the future and reach your goals. At Thomas & Co Accounting we have streamlined our service using the latest cloud accounting software, this allows us to provide the highest level of customer service to our clients and calm any financial anxieties.
