Individuals & Self Assessment

From self assessment to sophisticated tax planning, we can help you with your tax affairs whether you are in business or a private individual.

We offer a full compliance service for preparation of personal tax returns, and we can also advise on any specific queries you may have relating to income tax, capital gains or inheritance tax. Visit our financial planning page for more details of our Estate Planning services or see the Tax Consultancy section below for the wide range of tax issues that we handle.

Individual Tax

Personal Tax

We have great expertise in all forms of tax including income tax, capital gains tax and inheritance tax. Planning to mitigate tax can only be achieved by a methodical, systematic approach.

Let us do a health check on your tax situation. Do not pay more tax than you must. The Self Assessment Tax Return is a complex form. Let us shoulder the burden of compliance and complete this on your behalf. We will calculate your tax liability, deal with all correspondence from the HM Revenue & Customs, monitor and inform you of the due dates for payment of tax and deal with Revenue Enquiries.

If you are planning any of the following there are almost always tax costs and implications:-

  • Renting out a property
  • Disposing of shares
  • Selling your home
  • Setting up a trust
  • Going to live or work abroad
  • Passing on your wealth to family members
International Tax

Inheritance Tax

Inheritance tax planning is a complex area and with property values as they are, the tax now impacts on more people than ever before.

Generally consideration needs to be given to your overall estate and what action might be taken to reduce potential exposure to Inheritance Tax.

Some thoughts to consider:

  • Do you have assets including your home, savings and investments, land and business assets worth more than £325,000
  • Have you made a will?
  • Are you making full use of your annual exemption and other exemptions available?
  • Have you set up a trust or are you the beneficiary of a trust and do you know how this impacts on your Inheritance Tax position?

If you would like to discuss any inheritance tax issues please do not hesitate to contact us.

More Information

For more information about or to make an appointment to discuss your personal tax, property tax or international tax please contact us via our online contact form.

Alternatively please contact us on one of our office telephone numbers:

  • Shrewsbury - 01743 241581
  • Newtown - 01686 626534
  • Oswestry - 01691 654353
  • Knighton - 01547 528383
  • Ludlow - 01584 875715
  • Ruthin - 08 0800 327637
Property Tax

Property Taxes

When buying or selling property, or even gifting a property, some of the taxes you need to consider are noted below:

  • Income Tax/Corporation Tax including capital allowances
  • Capital Gains Tax
  • VAT
  • Inheritance Tax
  • Stamp Duty

Planning in advance will allow the most tax efficient structure to be chosen. However this is generally a balancing act. For example the most efficient structure for stamp duty purposes may be disastrous for capital gains tax purposes and vice versa.

Other considerations include the vehicle for ownership, residency of the owners, whether HM Revenue and Customs would treat the transactions as property investment or property dealing. Consideration must be given to ALL the relevant taxes. This will ensure that that the most commercial and tax efficient strategy is chosen.

At DRE & Co we ensure that the tax aspects of a transaction never override the commercial considerations. It is often the case that some forethought on property transactions saves a lot of heartache and unnecessary tax liabilities in the future. Let us advise you on the tax implications before you put your plans into action ensuring that income tax, capital gains tax and inheritance tax reliefs are fully utilised.