Case Studies

Check out three real world examples of how we helped people like you.

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Navigating the tax service in the UK can seem like a maze of  cul-de-sacs with forms and confusing rules at every turn.  An expert can guide your way, saving time and money.

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Tor needed advice on what to do about the company she had set up slightly by accident!

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Problem 

Tor needed advice on what to do about the company she’d set up slightly by accident! First, she’d needed a “SumUp” machine to sell her handmade cards at local markets. This led her to registering for a "business" bank account – which in turn led her to incorporating a company….Suddenly she found herself faced with having to file an annual return, company accounts and submit a corporation tax return. Signing up with an accountant with fees anywhere from £600 - £1200 per year would have swallowed up the small amount of profit she had actually made from this fledgling venture. What she really needed to do was reverse as many of these actions as possible and simplify things! Here’s where we stepped in:

Solution

A 40 minute consultation phone call with Tor clearly established that she with needed to reverse as many of these actions as possible. Three clear actions were suggested to resolve the issues.

Outcome

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Companies House accepted the closure of the company with no negative affect.

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HMRC  cancelled the requirement for a corporation tax return. 

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iZettle agreed to link their card machine to her personal bank account and she could continue to trade through her existing self-employment.

With over 20 years experience of being self employed I thought the running of an additional Ltd Company would be straight forward. Until the letters started coming in and the instructions and requests increased.

 

I simply could not make head nor tail of them and struggled to turn their words into actions on my part.

 

 Google only got me so far and reading any Gov website wasn't the interaction I needed.

 

I needed to talk it out - my fears and my options.
 

Sinead gave me invaluable help and guidance and brought my pulse rate down. It was a timely two way conversation that put an end to a situation that I hadn't intended to find myself in.

 

I had my own personal  tax advisor  for the amount of time I needed them for....and the letters have stopped landing on my doorstep!​
 

Tor 

Need help with your tax?

Get in touch today.

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A deadline in a few days for a Capital Gains tax form had Bill and Ann in a tizz...

Problem 

Bill and Anne had just sold their rented flat. They were told they had to file a Capital Gains tax form with HMRC within 30 days. This deadline was now just a few days away; they didn’t have an accountant….They weren’t even sure where to start…

Solution

We booked an initial 15 minute call to talk them through the requirements and the process of setting up a Report and pay Capital Gains Tax on UK property - GOV.UK  account. We then gave them a list of which documents and figures they would need to have to hand in order to fill out the form and report their capital gain to HMRC. We also ran through a few checks with them to make sure they maximised any reliefs and allowances they were allowed to claim, such as Principal Private residence relief (PPR) or Lettings relief.
 

They needed some time to find all the bits of paper required so we then booked a 2 hour call 2 days later during which they screenshared the form and their calculations. We were able to help them check their calculations were correct and accurate and critically, to help them put the numbers in the right boxes! 

Outcome

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Bill and Anne were able to each set up their respective Capital gains Tax on UK property accounts

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They were able to check their calculations for the gain on the disposal of their rental flat and were reassured that they were using the right figures

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They put the right numbers in the right boxes and were reassured their submission to HMRC was both timely and accurate. They were able to breathe out.

My Tax Advisor showed us how to sign up for Capital Gains Tax on UK property account with HMRC….

 

We were then able to authorise them to help us fill in this form and using screenshare on a zoom call, My Tax Advisor helped us get the details right.

 

We were very nervous about putting down the wrong information but our advisor talked us through what each question actually meant and helped us get the numbers right.

 

We’ve now submitted our form to HMRC on time and we’re confident we’ve completed it correctly.

 

Thanks to My Tax Advisor for stepping in very quickly – there’s no way we could have done this within 30 days if it were not for their speedy response and flexible approach to giving us advice.

Bill & Anne

Need help with your tax?

Get in touch today.

Juliet had never filed a tax return and didn't really understand what she was being told

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Problem 

Juliet is employed and doesn't file a tax return. She is a higher rate tax payer and has always paid into an occupational pension scheme. She’d heard that if she filed a tax return she might get some tax back because of the way in which her pension contributions were paid by her employer. But she’d never filed a tax return and didn’t really understand what she was being told…..

Solution

We needed a 30 minute consultation to determine that Juliet’s employer pension contributions were being paid using a mechanism called “relief at source”. This meant they were only receiving 20% tax relief. By getting in touch with HMRC, she could get tax relief at 40%  (the higher rate of tax she was paying) on her pension contributions. She was able to go back several years and ended up with a nice tax refund…(That always makes for a happy customer!) We were able to advise her that she didn’t need to register for self-assessment; a letter to HMRC would be sufficient. We helped her draft the letter to HMRC using the screenshare function on our zoom call. We also advised her on the other documents she needed to collect and enclose with her letter in order for HMRC to verify her claim as efficiently as possible.

Outcome

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Letter drafted and sent to HMRC

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Tax refund for Juliet. 

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Better understanding of how her pension contributions intersect with her tax so she can plan her contributions amounts in future years

It was such a relief to have someone clarify what all of this actually meant – I wasn’t sure if my employers had made a mistake or why it was I was entitled to a refund….

My Tax Advisor explained the situation to me as well as detailing what I needed to do in order to get my tax refund.

There is clearly a gap where individuals who don’t have an accountant need to be able to access quality advice for fair fees and My Tax Advisor did just that!

Juliet