Personal Tax Advice
At Sloane Winckless & Co, we firmly believe in a holistic approach to personal taxation. Recognising that every individual has unique financial commitments and aspirations, we are committed to providing a custom-tailored tax service. Our renowned experts seamlessly combine their vast knowledge with the latest tax regulations, ensuring our clients remain compliant while benefiting from every tax advantage. Beyond mere compliance, our service ethos emphasises understanding your broader financial picture. By diving deep into your income structures, investments, and future plans, we craft a tax strategy that complements your life’s goals, ensuring clarity, efficiency, and peace of mind.
Unveiling Tax-Saving Strategies: Maximise Your Reliefs and Allowances
The intricacies of the UK tax system, laden with varied reliefs and allowances, often leave individuals perplexed and overwhelmed. Sloane Winckless stands as a beacon in these turbulent tax waters. Our adept team of tax professionals is perpetually abreast of evolving tax rules and opportunities, ensuring you benefit from every available financial reprieve. Instead of a generic approach, we meticulously examine individual financial scenarios, identifying and harnessing the full spectrum of reliefs and allowances that apply. Our commitment transcends mere compliance; it’s about proactive strategy. By ensuring our clients utilise every tax advantage, we not only help you meet your legal obligations but also fortify your financial future. With our team of experts, you’re not just saving tax; you’re building wealth.
Inheritance Tax Planning: Preserving Your Legacy
Your legacy represents the culmination of your life’s endeavours and dedication to your loved ones. At Sloane Winckless, we profoundly understand this and are fervently committed to facilitating the seamless transition of your assets to the next generation, mitigating potential inheritance tax burdens. Our seasoned advisors dive deep into estate analysis, pinpointing potential tax exposures and strategically employing available exemptions and reliefs. This is more than mere number-crunching; it’s a delicate balance of understanding family dynamics, financial aspirations, and the intricate weave of UK inheritance tax rules. We strive to make this process as transparent and stress-free as possible, allowing our clients to focus on what truly matters: cherishing moments with their loved ones and resting assured that their financial legacy is in trusted hands.
Chartered Accountants
We are members of the Institute of Chartered Accountants in England and Wales. This gives you the reassurance you need that your business will be looked after properly and professionally.
Supporting You
We can produce monthly or quarterly management accounts, an annual profit & loss account, a balance sheet plus budgets & cash flow forecasts to help you to manage & plan. For annual accounts and much more, call Sloane Winckless & Co.
Not Just Accountants
In addition to preparing your annual accounts and advising on financial matters throughout the year, we are also able to assist with many other aspects of your business, including, Payroll & PAYE, National Insurance, VAT, taxation and much more.
ARE YOU KEEPING UP?
With all the changes in legislation that come into force every year and which affect the way, your business should behave. One call to us on 020 8949 6921 and you’re covered – make that call today.
Self-Assessment Simplified: Streamlining Your Tax Reporting Process
Navigating the nuances of self-assessment can be a daunting endeavour. At Sloane Winckless, we take pride in demystifying this vital yet intricate procedure. Our distinguished team of tax experts consistently refines their approach to ensure that every facet of your income and allowable deductions are impeccably detailed and represented. From collating documentation to categorising different income streams, we oversee every step, culminating in punctual submissions that sidestep any potential penalties. Beyond the mechanics of filing, our dedication lies in empowering clients with clear insights into their tax standings. With Sloane Winckless by your side, self-assessment becomes less of a challenge and more of a transparent, streamlined experience, instilling both trust and understanding.
CALL US ANY TIME :
020 8949 6921
Why Choose Us
Sloane Winckless & Co is an accountancy based in Epsom & Ewell. We are highly rated in the local and surrounding areas for providing high-quality accountancy services varying from accounting, taxation advice, company secretarial, and more. We treat every client, business, and individual with the same attention to detail while also providing a completely bespoke approach to cater to any unique requirements. Our business strives on being able to provide efficient, effective, and expert advice and results for our clients. Whether you have a small company with just 3 staff members or a much larger organisation, we provide a service that is tailored to your needs and requirements.
Collaborative
Our team of staff always ensures that our clients are fully satisfied with our services. From asking questions to voicing any concerns, we listen, take on board, and take action.
Expertise
Sloane Winckless as an accountancy has over 35 years of experience in helping, assisting, and advising many businesses ranging in size.
Supportive
Our helpful team of staff is always on hand to provide expert advice for any concerns or worries that our clients may have.
DON’T LEAVE IT UNTIL IT’S TOO LATE
If your company accounts are not submitted on time there can be penalties and problems so talk to us 020 8949 6921 in plenty of time – today would be good!
Our Process
Pension Tax Relief: Maximising Your Retirement Savings
The foundation of a stable retirement rests heavily on strategic pension planning. At Sloane Winckless, we elevate the significance of pensions by adeptly navigating the tax reliefs intertwined with them. Delving deep into the mechanics of pension contributions and the subsequent tax advantages, we stand as a guiding beacon for our clients. Catering to both basic-rate and higher-rate taxpayers, our approach is tailored to individual financial situations, enabling our clients to capitalise on every available tax relief linked to their pension contributions. Our mission transcends the immediate: we’re committed to bolstering your retirement reserves while concurrently reducing your prevailing tax liabilities. With our expertise, your journey towards retirement becomes a balanced act of wise saving and astute tax management.
Self-Employment and Taxation: Mastering the Unique Requirements
Embarking on a self-employed journey offers a myriad of opportunities – from flexible working hours to the freedom of choosing projects. However, it also presents distinct tax responsibilities. As a self-employed individual, you’re not just responsible for your craft but also for managing your taxation meticulously. Unlike traditionally employed individuals who have taxes automatically deducted via PAYE, self-employed professionals must actively manage and submit their tax returns. This encompasses declaring all forms of income, understanding which expenses can be deducted, and adhering to specific deadlines. Sloane Winckless & Co. aids in streamlining this process, ensuring that our clients remain compliant, reduce liabilities, and are well-informed. With the evolving tax landscape, having a trusted partner can mean the difference between smooth financial sailing and unforeseen tax hurdles. Embrace the freedom of self-employment while being confident in your tax strategy.
Related Services
Auditing
For businesses that require independent verification and validation of their financial statements, we offer auditing and assurance services.
Company Secretarial
Our team of experienced professionals specialises in providing comprehensive company secretarial services to ensure that your business meets all regulatory obligations and operates smoothly.
Taxation Advice
Navigating the ever-changing tax landscape can be challenging. Our team of tax experts will work closely with you to develop effective tax planning strategies.
Auditing
For businesses that require independent verification and validation of their financial statements, we offer auditing and assurance services.
Taxation Advice
Navigating the ever-changing tax landscape can be challenging. Our team of tax experts will work closely with you to develop effective tax planning strategies.
Company Secretarial
Our team of experienced professionals specialises in providing comprehensive company secretarial services to ensure that your business meets all regulatory obligations and operates smoothly.
Personal Tax Solutions FAQs
What are the key differences between being taxed as a self-employed individual versus a traditionally employed person?
Traditional employees typically have their taxes deducted at source through the PAYE (Pay As You Earn) system, with their employer handling contributions for National Insurance and Income Tax. In contrast, self-employed individuals are responsible for managing and submitting their own tax returns via Self Assessment. They must calculate and pay Income Tax and National Insurance contributions on their profits, not their total income.
How can I determine which of my business expenses are tax-deductible as a self-employed professional?
We have a dedicated team specialising in international VAT matters, helping businesses navigate complex regulations for cross-border transactions and overseas operations. Our experts stay updated with the latest VAT legislations worldwide to provide current, relevant advice.
What are the specific tax deadlines I need to be aware of as a self-employed individual?
The primary deadline for self-employed individuals is 31 January following the end of the tax year, which runs from 6 April to 5 April. By this date, you need to submit your online Self Assessment tax return and pay any tax owed. There’s also a payment on account due on 31 July. However, deadlines can vary based on specific circumstances, so it’s always good to check with HMRC or a tax advisor.
Do I need to register as self-employed with HMRC, and if so, how do I go about it?
Yes, if you start working as a self-employed individual, you must register with HMRC. You can do this online through the HMRC website. Once registered, you’ll be in the Self Assessment system, and you’ll need to complete and submit a tax return each year, even if you make a loss.
How do National Insurance contributions work for the self-employed, and what rates apply to me?
Self-employed individuals pay two types of National Insurance: Class 2 and Class 4. Class 2 is a fixed weekly amount, while Class 4 is a percentage of your taxable profits. The exact rates and thresholds can vary each tax year, so it’s essential to consult the latest figures from HMRC or seek guidance from a tax advisor.
ARE YOU KEEPING UP?
Sloane Winckless & Co is the trading name of Sloane Winckless & Co Limited. Registered in England No 4724070.
We have more than 35 years’ experience in serving small & medium businesses in the Epsom & Ewell area with a wide range of personal tax & business accountancy services. Contact us today to find out how we can help you and your business.