Over nine million tax payers receive a self-assessment tax form, not all are self-employed, and many have other income for which they have a liability to tax.
There are many ways to reduce income tax liability such as:
- Ensuring allowable expenses are deducted from your income
- Choosing different forms of borrowing or investment
- Choosing the right savings accounts
- Taking advantage of tax reliefs available on pensions or gift aid
- Changing the timing of visits abroad or considering becoming non-resident to the UK
- Ensuring you meet all HMRC filing deadlines
Cameron, Ferriby & Co can help in all areas of personal taxation.