Tax accountants for individuals and businesses
Tax accountants for individuals, landlords and businesses
We prepare tax returns and give tax advice to self-employed people, company directors, landlords, partnerships and companies. We also look after a number of personal tax only clients, including directors of major public companies and people working offshore. Everything is explained in plain English, and the first conversation is free.
Self assessment and personal tax returns
You will usually need to file a Self Assessment return if you are self-employed, a partner in a business, a landlord, have Capital Gains Tax to pay, or have to pay the High Income Child Benefit Charge outside PAYE. Untaxed income such as dividends, savings interest or foreign income can also bring you into it. We prepare and file the return, check the reliefs and allowances you are entitled to, tell you what you owe and when, and deal with HMRC if they have questions.
For the 2025 to 2026 tax year, tell HMRC by 5 October 2026 if you are new to Self Assessment, and file online and pay by 31 January 2027. If you make payments on account, the second one is due on 31 July. Our personal tax factsheet covers the basics.
Making Tax Digital for Income Tax
Since 6 April 2026, sole traders and landlords with qualifying income over £50,000 have had to keep digital records and send HMRC a quarterly update every three months through compatible software, as well as filing the annual return. The threshold falls to £30,000 from April 2027 and £20,000 from April 2028. We can send the quarterly updates for you and help you choose and set up the software.
Capital gains tax
Selling a second home, a rental property, shares or a business can bring a Capital Gains Tax bill. For UK residential property, the gain has to be reported and the tax paid within 60 days of completion, so talk to us before the sale rather than after. Landlords will find the wider picture on our landlord tax page.
IR35 and contractors
If you work through your own limited company, the off-payroll working rules (IR35) decide whether you are taxed like an employee. When your client is a public body or a medium or large business, the client makes that decision. When the client is small, your own company does. We can look at your contracts and working arrangements and explain where you stand.
Corporation tax
For companies we prepare the corporation tax computation and file the company tax return, and we advise directors on how to take money out of the business and on the timing of bigger decisions. It fits alongside our annual accounting work.
Trusts and inheritance tax
We also act for a number of trusts, handling their tax and advising trustees. Trusts are often seen as something only the very wealthy use, but they can help families protect assets for the next generation and add flexibility to inheritance tax planning. When an estate needs dealing with, our probate service covers the tax side.
Tax planning, done properly
It is perfectly legal to arrange your affairs so you pay less tax, but HMRC takes a hard line on planning it sees as aggressive, and some schemes have been undone by retrospective legislation. We stick to the reliefs and allowances the law intends you to use, and we will tell you plainly if something sounds too good to be true.
What it costs to get started
Phone calls and the first meeting are free. After that, we quote a fixed price for the work before we start.
Near Midsomer Norton or Radstock? Our Midsomer Norton accountants are at 124 High Street.
Based near Warminster? Our accountants in Warminster can handle this for you from our Market Place office.
Our chartered accountants in Bath prepare tax returns for individuals and businesses across the city.
We're here to help!
Feel free to get in touch with us any time.
A Taxation story
We were approached by a couple who had inadvertently not declared income from foreign investments.
We were able to work with the client to declare the missing income to HMRC using one of their Overseas Income Disclosure schemes as a basis for settlement. We even managed to persuade HMRC that the income was joint even though the account was only in the husband's name, which was unusual hence our stance.
Normally these schemes, not only is the tax and interest on the arrears due, but HMRC normally require a minimum of a 10% or even 20% tax geared penalty. By providing a detailed summary of the missing income and computing the tax and interest due as well, we finally agreed a figure that included a penalty of around 8% overall saving the clients over £4,100 in penalties alone.
Frequently asked questions on Taxation
What is the deadline for self-assessment tax returns in the UK?
For the 2025 to 2026 tax year, paper returns are due by 31 October 2026 and online returns by 31 January 2027. Any tax owed is also due by 31 January 2027. If you make payments on account, the second one is due on 31 July.
Do I need to complete a self-assessment tax return?
Usually yes if, in the last tax year, you were self-employed and earned more than £1,000, were a partner in a business, had Capital Gains Tax to pay, or had to pay the High Income Child Benefit Charge outside PAYE. You may also need one if you had untaxed income such as rent, dividends, savings interest or foreign income. If you are not sure, ask us: the first conversation is free.
How can a tax advisor help reduce my tax bill?
By making sure you claim the reliefs, allowances and expenses you are entitled to, and by planning things like the timing of sales and how directors take money out of a company. We will not recommend schemes HMRC regards as aggressive, and nobody can promise a particular saving, but we will tell you what is available to you.
Do you give IR35 advice to contractors?
Yes. If you work through your own limited company, we can look at your contracts and working arrangements and explain whether the off-payroll rules are likely to apply. For public sector and medium or large private sector clients, the client decides your status. For small private sector clients, your own company does.
What are the penalties for late submission of tax returns?
For a Self Assessment return it is £100 as soon as the return is late, then £10 a day after three months (up to £900), then 5% of the tax due or £300, whichever is greater, at six months and again at twelve months. Paying late adds penalties of 5% of the unpaid tax at 30 days, six months and twelve months, plus interest. People using Making Tax Digital for Income Tax move to a points-based system for late submissions.
Can I claim tax relief on business expenses?
Yes, if the cost is incurred wholly and exclusively for the business: things like travel, equipment, stock, professional fees and a share of household costs if you work from home. Some costs, such as entertaining clients, are not allowable. We go through your costs with you so nothing allowable is missed.
What is the difference between income tax and corporation tax?
Income tax is paid by individuals on earnings, self-employed profits, rent, savings and dividends. Corporation tax is paid by limited companies on their profits. If you run a company you will usually deal with both: corporation tax on the company's profits and income tax on the salary and dividends you take out.
How much can I earn before paying income tax in the UK?
For the 2026 to 2027 tax year the standard Personal Allowance is £12,570. It starts to reduce once your adjusted net income goes over £100,000, by £1 for every £2 above that level.
What records should I keep for tax purposes?
Keep records of your income and expenses, including invoices, receipts and bank statements. If you are self-employed or a landlord, HMRC says to keep them for at least five years after the 31 January filing deadline for that tax year. Limited companies generally need to keep records for six years from the end of the financial year they relate to.
What is Making Tax Digital (MTD) and does it apply to me?
Making Tax Digital for VAT has applied to all VAT-registered businesses since April 2022. Making Tax Digital for Income Tax started on 6 April 2026 for sole traders and landlords with qualifying income over £50,000, and extends to those over £30,000 from April 2027 and over £20,000 from April 2028. It means keeping digital records and sending quarterly updates through compatible software.