Non-Residents to Pay Capital Gains Tax on Sales…
Becoming non-resident and death have traditionally been some of the…
Self-Assessment is a system Her Majesty’s Revenue and Customs (HMRC) uses to collect Income Tax. It is usually deducted automatically from wages, pensions, and savings. People and businesses with other income must report it in a tax return. It details an individual’s financial information, like earnings, expenditures, taxes, and national insurance, in a particular tax year.
Self-Assessment tax returns must be completed once a year by either 31st October (paper returns) or 31st January (online returns). Your return declares how much taxable income you have earned in that financial year and lists any expenses or reliefs you may be eligible to claim. Under the Making Tax Digital initiative, annual returns will be replaced by quarterly updates. You’ll need an online HMRC account for this purpose.
People with more than one income stream can use Lanop’s Self-Assessment service to eliminate the stress of filing accurate and timely tax returns. Our Self-Assessment Specialists ensure that you pay the least amount of taxes possible by providing a quick, accurate and compliant return as part of our extremely cost-efficient service.
Lanop Accountants eliminate the need to search for an all-encompassing accountancy firm. Our corporate headquarters in London provide practical and efficient solutions to all your accounting needs.
To pay self-assessment tax in the UK, follow these steps:
To claim tax relief on a self-assessment form in the UK, follow these steps:
The deadline for filing your Self-Assessment tax return is 31 January each year. For the tax year 2021-22, the due date to submit your taxes is 31 January 2023. It’s crucial to meet this deadline to avoid penalties and interest charges. Make sure to prepare and submit your tax return promptly to stay compliant with HMRC regulations.
Sole traders are individuals who own and operate their businesses. Managing finances and paying taxes are among their responsibilities, as well as finding customers and offering products and services. Keeping track of one’s finances can be difficult for sole traders due to the day-to-day responsibilities of their businesses.
Our team consists of skilled and experienced accountants and financial advisors. These professionals are able to assist individuals, entrepreneurs, business partners, and larger ventures with their financial and accountancy acumen.
Because we understand how valuable your time is, you can trust Lanop’s team of tax experts with your self-assessments and registration on the HMRC online portal for an accurate, well-calculated, and timely declaration of tax liabilities.
Rental Income
Our tax accountants specialise in the property sector. They will help you with tax planning, property tax, and rental income disclosure for resident and non-resident landlords. This advice includes property VAT planning, holding properties in a limited company, and splitting companies with trading and property investment activities.
Let Property Campaign
Our tax specialists have significant experience dealing with voluntary tax disclosures and investigations. They can advise on the best strategy to adopt to minimise potential penalties and further negotiate affordable repayment terms with HMRC on your behalf.
Capital Gains Tax Disclosures
Capital gains tax can be considered a voluntary tax because, with effective planning, it can be avoided, reduced, or delayed to a future date. Our CGT experts can help reduce your CGT bill by fully using available allowances and reliefs and applying valid tax deductions. We will also prepare and submit assessments within 30 days of completion.
Lanop’s wide knowledge of industry-specific tax reliefs and in-depth counselling on tax saving and investment planning for individuals and corporations make us your true friend when planning for taxes. Give us a call. We will make your life easier.
All types of tax investigations are handled at Lanop. Our expert chartered accountants offer competent advice on subjects such as COP 8 (Tax Avoidance), COP 9 (Suspected Serious Fraud), HMRC Nudge Letter, Disclosure Facilities, fraud, VAT and PAYE investigations.
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At Lanop, I am providing my services as the Managing Partner and Tax Specialist. My expertise includes helping medium and small-scale businesses in their accountancy and legal requirements, business start-up support, strategic review, payroll system review and implementation, VAT and tax compliance to cloud accounting. I am also an expert in financial reporting, identifying and monitoring risks, strategic business development, client retention, market acquisition and deals closure by carefully planning my sales cycle.
Senior Financial Accountant
I am a qualified finance professional with over 8 years of diverse experience and proven track-record in accounting and finance, tax planning, preparing annual accounts, dealing with tax investigations and strong customer relationship management. I have also served in the higher education institutes to teach financial accounting and financial management to undergraduates and MBA students. Apart from my core expertise I am also leading and managing Lanop’s team of client managers across continents. I am also responsible for the quality control of the work and the provision of streamlined services to all our customers. Apart from work, I am a real Tennis enthusiast & sports player at heart.
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