We understand that personal tax can be challenging. Whether you are a compliance-focussed individual seeking peace of mind that your tax returns are accurately compiled or have more diverse strategic requirements, our team of highly qualified tax specialists will advise and guide you and be by your side at every turn.
Many of our clients have investment portfolios, including both commercial and residential properties, and require proactive advice to simplify and strategise tax policy, applying these considerations to specific needs and requirements.
Others are focussed on preservation of assets and planning for succession or inheritance planning. This can be a complex area with a range of taxes in play. Our experienced specialists work with you to explain and plan the key areas for consideration.
Different because you are
We pride ourselves on providing individually tailored services to our clients. Whatever your aspirations and priorities in business and life, we will be by your side with expert advice from local specialists. It is because your needs are unique, that the solutions we provide are distinct and personalised to you.
Often, a corporate solution will come into play with our advice. Lovewell Blake has been advising local companies for over 160 years and where your strategy would benefit from a corporate angle we can service the corporate compliance requirements alongside your personal needs for a truly joined up service.
You can relax in the knowledge your tax and financial affairs are constantly being monitored by experts who understand both your financial circumstances and your financial objectives.
Our tax Partners and Consultants have significant experience in a broad range of tax planning strategies and advisory services including:
Remuneration planning for employees, business owners and entrepreneurs
Income tax compliance services and advanced tax planning advice
Capital Gains tax compliance and strategic planning
Inheritance tax planning, estate administration and personal trust management
Retirement planning and, pension tax relief advice
Services for overseas residents, nationals or those coming to the UK
Our tax specialists also work closely with our colleagues at Lovewell Blake Financial Planning. Whether it be pension or investment advice, managing your portfolio, or planning for retirement, our team of qualified and experienced financial advisers will link together your tax advice and key objectives.
Whilst our personal tax clients are extremely diverse and demand a truly personalised service, what connects all Lovewell Blake clients is the desire to be supported and valued. We are more than your tax agent. We pride ourselves in being regarded, by our clients, as a trusted adviser, always there when you need us.
EIS and VCT investing is not the only area Lovewell Blake can help you; we offer a full range of personal tax advice services to help you make the most of your money
Get in touch to talk to one of our specialists and see how we can help simplify your financial affairs and support you.
What do personal tax accountants do?
This is a very personal and trusted relationship so it’s not a straightforward question to answer. In our opinion, a personal tax adviser should be seeking to understand more about your personal circumstances, and that of your immediate family, to allow advice to be provided on matters relevant to you. This could be technical support around taxation, being part of the trusted team to support particular transactions or a sounding board for future plans. Whilst the service can be one of compliance (help with submitting tax forms) the real benefit comes from creating that relationship which allows more rounded advice to be provided.
Do you help with wealth and pension planning?
There are often two distinct elements to wealth and pension planning. The first in understanding the diversification of investment you might need and the tolerance to risk. These areas are regulated and our connected company Lovewell Blake Financial Planning Limited and has a team qualified Independent Financial Advisers who can provide support and help in this area.
The second element is often around wealth structuring and how best to manage investments/assets for your short and long-term plans. These are very much advisory services we provide and having an understanding of your wealth, thoughts and main concerns will allow us to provide bespoke support to meet your needs. What might be right for one person is not necessarily right for the next, so establishing someone’s key objectives is important.
Do you need an accountant to do your tax return?
Not necessarily. If you feel confident to do so, you can create a Government Gateway account and complete your own return under the self-assessment regime. Some details of some sources of information, such as salary/pension paid under PAYE, should be on your online record already. You may receive summaries of these sources from other agents, such as a portfolio report from a stockbroker or a rental report from a letting agent. You will need to “self-assess” all relevant sources, either from those reports or by calculating income, expenditure and capital gains yourself, which will involve some level of understanding of the tax rules. If there are errors in the return, HMRC have powers to charge interest and penalties. If you do not have time or confidence to do this yourself, particularly if your affairs are complicated, engaging our tax compliance team can give you peace of mind that your compliance obligations have been met. In addition, our tax consultants can provide advice on tax planning opportunities, not only relating to your tax return, but also considering longer-term issues such as business succession planning, leaving or moving to the UK, selling or acquiring assets, and estate planning.
How long do I have to keep personal tax records for?
This depends on what type of records they are. It is often good practice to retain records for six years although certain information may need to be kept for longer and some for less time. It depends on what the records are. You should always take advice on how long specific records should be retained.
Why should I choose Lovewell Blake to handle my personal taxes?
Our tax teams are very experienced and many have dedicated tax qualifications such as being Chartered Tax Advisers. We are therefore extremely capable professionals who, in addition, pride ourselves on getting to know your affairs so the best advice and support can be given.
What is a personal tax allowance?
This is the part of your income (or capital gain) which doesn’t attract a tax liability. The allowances for tax year 2022/23 are £12,570 (income tax) and £12,300 (capital gains tax).