As an individual, you may not think you require a tax accountant in Tadworth. It’s easy to believe that you have everything covered, but there are instances where a professional can be highly beneficial. Let’s learn more!
- Inheritance Tax – Whenever you’ve established a large estate, you don’t want the beneficiaries to lose most of their inheritance to tax. The standard rate is 40 per cent on inheritance tax, and it’s payable on whatever is left in the estate over £325,000. Many people have values exceeding this amount. A tax accountant in Tadworth can help you reduce the impact after your death. Long-term planning is crucial to mitigate inheritance tax without hurting the financial strength of your family.
- Capital Gains Tax – You might be required to pay a capital gains tax if you resell non-inventory assets. The original purchase cost has to be lower than what you sold it for. Generally, this affects the sales of property, bonds, and stocks because they are high-value options. Typically, the standard rate here is up to 18 per cent. Therefore, if you sell many assets, this could reduce the amount you make. However, an accountant can assist here.
- Tax Returns – A tax accountant in Tadworth can help you file your necessary tax returns and create a full plan to ensure that you do what’s legally possible to reduce personal tax liabilities.
Finding an Accountant in Tadworth
When you work with David Beckman & Co Ltd, you’ll have a professional tax accountant in Tadworth who can help you deal with the documentation relating to assets, tax returns, and more. Someone will review the estate and ensure that you avoid excessive tax rates.
