Property Tax Experts
C Charles & Co Ltd is an established accountancy practice with a 35 year record in helping our clients minimise their tax liability and over the years we have built a solid reputation in providing a personalised service suited to our clients needs. We provide tax advisory services on all aspects of UK taxation with our main focus being on property tax.
We would like to welcome you to our new series of tax articles where we will show you some simple methods which can be used to reduce or even legitimately wipe out any tax liability.
Before you read our articles please take note of the following important deadlines for submitting your tax returns and any tax liability due.
Important dates for your property tax diary
30th September
If you want the Inland Revenue to calculate your tax liability for you then you must declare your property transactions from April 6th 2006 to April 5th 2007 to the Inland Revenue no later than 30th September 2007. The Inland Revenue will then notify you of any tax that is due and it must be paid by 31st January 2008.
5th October
If you have generated any rental income profits (chargeable gains) then you must inform the Inland Revenue of this within six months of the end of the previous tax year. This means that if you made rental income profits in the 2006-2007 tax year then you must notify the Inland Revenue of this no later than 5th October 2007.
31st January 2008
However if you employ an accountant, tax advisor or calculate your tax liability yourself, then the deadline is 31st January 2008. Not only must you submit your completed tax returns, but you must also make all tax payments by this date. Failure to do so will lead to a non-negotiable £100 fine.
We currently offer a special tax rate tax advisory service on any aspect of taxation, including property taxation, for as little as £148 for a 1 hour face to face tax consultation. Please speak to Nicholas Charles on 020 7263 3295 or alternatively email him ncharles@charlesfcca.com.
Meanwhile please feel free to make the most use of our FREE property tax tip articles: