Personal Tax Return

Self-assessment Tax Return & Planning

We Will Support You Through The More Complex Aspects Of Self-assessment.

Self-assessment

Our specialist tax expertise will take away your self-assessment headaches with practical advice on your own personal tax position.

The reality is that ‘Self-assessment’ still involves quite a lot of form filling and compliance. It’s also vital that you know what your tax allowances are so you pay exactly the right amount of tax due.

There is a constant stream of changes to tax legislation which means that returns are becoming very difficult to understand.

This also means that taxpayers are at risk of incurring more penalties. Often due to failing to complete their returns correctly and on time.

We can support you with some of the more complex aspects of self-assessment and help you with your tax return.

  • Julie Rhodes – Director, Tim Rhodes Stone Solutions Ltd

    On recommendation we used KA Farr & Co to register and set up our Limited company. We had minimal knowledge or experience in running our own business but were given clear explanations and advice on all aspects including personal tax, corporation tax, VAT registration and Payroll. Being inexperienced, the advice, guidance and on going efficient service provided has been of great benefit to us, giving us total peace of mind that our tax liabilities are taken care of.

  • Sherie Halsall – Peter Halsall Removals and Storage Ltd, Southport

    We wanted an accountant with a good reputation to give us accounting support. Everything to date has been fabulous!

  • Mr and Mrs Rose – The Edendale House Hotel

    I have used KA Farr ever since I started my business 17 years ago. They are extremely helpful and reliable. Our relationship is like having a good friend on your side. Everyone is helpful, knowledgeable and always do what they say they will when they say they will. Thank you so much.

  • Paul Hawkins – Hawkins Asset Management Limited

    Helpful and informative at the start of the relationship

  • Martin Jackson – Roxby Training Solutions Ltd

    Our business partner has used KA Farr & Co for many years and has always been very satisfied with the service. Personally, I have always found KA Farr & Co helpful and value their professional opinion

  • David Deveney – Energyfront Limited, Merseyside

    Simply a very professional practice. You [Kath] and your team give consistently good service and have done so throughout the years. All my business and personal accounting needs are met.

  • Sue Siddeley – Owner, Sion Properties, Southport

    I was recommended to the company about 15 years ago. Kath has always looked after our business interests and I would certainly recommend her. I’ve even got my Dad to leave his long standing accountant and move to Kath!

  • Richard Dehn – Partner, Bury Road Off Licence

    K A Farr & Co are always totally approachable with any questions or problems that may pop up……and…….they always seem to come up with a sensible answer. Over the years I have never been left wondering about an accounting or tax issue, I just get on the phone straight away. They are an invaluable business tool to be used to make the day to day running of your business so much easier.

  • Loraine – Aroma Leisure Limited

    They are always helpful and provide advice when I require it.

  • James Redmond – Sole Trader, Builder

    At first the company was recommended to me and over the last 8 years I’ve always had 1st Class Service. Very efficient, great service, friendly and reliable.

  • Dave Halton – Merseyside

    Kath is local, friendly, approachable and down to earth. She provides an excellent service and after more than 20 years why would I go anywhere else?

  • Joanne Hilliard – Office Manager, Globe Heat Treatment Ltd

    Good service, professional and reputable accountants. We receive good advice on all matters and rate their service 5 out of 5!

  • Paul Bell – Director, P.R.B. Consulting Ltd

    I chose K.A.Farr & Co as my company’s accountancy advisor because they are a well established and highly respected local firm. I’ve always found them to provide me with a relaxed and fairly priced, but thoroughly professional, service – allowing me to concentrate on running my business.

  • Dave Sumpter – Envogen UK Limited, Knowsley, Merseyside

    Always had excellent service, particularly when urgent action or advice is required, always accessible

  • Mr Zavieh – Delizzis, Southport

    I use KA Farr & Co because of their efficiency and friendliness

  • Dennis Gregory – Bryden International Limited

    What I like about Farr’s is that they give friendly, easily understood advice. You make us feel that you are very much part of our business, and you share in our success or failure. Your new website and letterheads have moved you into the “modern” era. I like them. I would mark you a 5 on the Richter scale for good dealing experience.

Personal Tax Planning

We will help you plan your tax return by:

  • Ensuring you have the documentation and information you need
  • Completing your tax return, online or by post
  • Calculating your tax liability accurately
  • Advice on exactly when to make payments and how much to pay
  • Planning tax opportunities to benefit your personal circumstances.

Tax planning encompasses many different aspects.

These aspects include the timing of both income and purchases and other expenditures. Keeping tight control of planning goes a long way to helping your business pay the correct amount of tax. Learn the essentials of tax planning by exploring the subject with K A Farr & Co. and we could save you hundreds, possibly thousands, of pounds in tax every year.

We want you to maximise your tax position whilst meeting your compliance obligations and paying what you owe.

The key is knowing exactly what your individual responsibilities and allowances are as a taxpayer.

With dedicated, professional taxation advice and support, we can provide you with year-round advice on all aspects of personal taxation.

Tax Advice

KA Farr & Co are tax experts and offer a specialist personal taxation service for individuals on all tax-related matters.

Your tax planning is dependent on the size and structure of your company, there could be different tax advantages for each structure.

Sole Trader

As a sole trader, you are both the business and its owner for tax purposes. No tax distinction is made between taxable profits and what is earned by the business. Tax thresholds and rates for sole traders are the same as if you were an employee.  However, unlike an employee, you can claim expenses as long as they are deemed to be just for the business.

Partnership

In tax terms, this is the same as 2 sole traders working together. Therefore you will still file your own returns and pay tax and national insurance on the same self-employed terms.

Limited Company

Once you register a limited company, you become an employee and a shareholder. This means you are able to draw a salary, which you can pay yourself with PAYE. You are also able to draw dividends out of profits. One of the key tax advantages of a limited company is that profits can be retained for reinvestment. The advantages of this are that they are taxed at the corporation rate rather than income tax rates.

Limited Liability Partnership (LLP)

The members of the LLP are individually self-employed and the LLP will file an annual tax return, but each partner will report their share of the profit on their personal tax return.

Useful Information

KA Farr & Co pride themselves on making tax easier for our clients.

We have put together some handy tables that include up-to-date Income Tax rates and National Insurance rates.

Income Tax rates

Find up-to-date Income Tax rates by clicking the link to the tables here. This includes; personal allowances, rate bands and tax rates.

National Insurance rates

Find up-to-date National Insurance rates by the link to the tables here. This includes; self-employed, Class 1 and Class 3 rates.

Manage your Personal Tax Account (PTA)

You will soon be able to manage your chosen tax agent directly through your Personal Tax Account. HMRC will soon be adding links to PTAs, which will include accepting an authorisation request to allow an agent to represent you.

You will also be able to remove a tax agent you no longer want to act on your behalf in Making Tax Digital and legacy services.

Our services

We offer preparation of accounts, personal and company tax and business planning.

Our services also include secretarial support, payroll/CIS services, bookkeeping, VAT and company auditing.

Other Services