Income Tax

    The highly experienced team at Simpson Wood prepares income tax returns for private individuals, trusts, sole traders, partnership clients, and company directors alike. 

    We pride ourselves on the comprehensive nature of our income tax services, drawing on decades of experience to make sure we are prepared to deal with all aspects of your personal tax affairs. 

    This includes the preparation and filing of your annual tax returns and repayment claims with HM Revenue & Customs. We will liaise with you and ensure that all your sources of income or any capital gains are returned to the Revenue. 

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    What is income tax?

    Approximately 12 million tax returns are issued annually by HM Revenue & Customs, covering the fiscal year, which ends on April 5th. 

    Individuals who are likely to have to complete a return are the self-employed, company directors, higher-rate tax payers, and people who own rented properties or have other sources of untaxed income. 

    Where a tax return is not issued but an individual has a liability, it is their responsibility to advise HM Revenue & Customs. 

    Each year a certain number of tax returns are selected for an enquiry, either at random, or due to discrepancies. Our approach, experience and expertise minimise the likelihood of errors and discrepancies that can lead to investigations, providing you with peace of mind and financial confidence. 

    Our process

    All of our income tax returns are filed online using fully integrated software packages that ensure absolute accuracy, security and transparency. 

    After receiving your information, we will set out what your liability is and the due dates of payment. By doing this in a timely manner, we ensure you have the maximum opportunity to plan your finances. 

    Our team also has a great deal of expertise in dealing with enquiries raised by HM Revenue & Customs into individual tax returns. While these enquiries can slow down the process of tax compliance, we strive to ensure this process as pain-free as possible for our clients in terms of both time and cost. 

    We also offer a very cost-effective fee protection scheme to cover the cost of an enquiry by HM Revenue & Customs, leaving you free to enjoy financial freedom without the worry of an enquiry landing on your doorstep. 

    Income tax experts

    We are adept at dealing with income tax problems as part of our comprehensive personal tax service, through which we help clients with high net worth tax matters, inheritance tax calculations, VAT, foreign income, and a whole range of other tax liabilities and personal taxation demands. 

    Our approach is underpinned by the belief that the hard work our clients put into their lives, jobs and businesses deserves a personal tax service that maximises their wealth, and we do all we can to relieve the administrative burden of tax compliance. 

    If you would like to find out how our income tax services can help you, contact us today. 

    More from Financial Planning

    We offer a complete solution to clients. As well as completing your return, we use our knowledge of your individual circumstances to provide you with proactive advice and help you to minimise your tax burden.

    Our knowledge of trust and tax law and of its practical application has enabled us over many years to establish a large and well respected trust department, making us one of the leading practices in the area offering such a specialised service.

    We see Simpson Wood as a proactive partner that often looks for ways to improve our financial position by providing advice on tax planning opportunities.

    The people at Simpson Wood take time and care to understand our needs and to provide advice in a professional way – and on a level which is easily understood. I would have no hesitation recommending this company to anyone looking for professional advice across a broad range of financial matters.

    Our Income Tax Team

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