Personal Tax Services

At Pierce, we can assist clients with the preparation of their tax returns, whether those returns are for partnerships, individuals or trusts in our tax department. We file clients’ returns electronically so there is no need for the forms to be submitted to HM Revenue & Customs until 31 January following the tax year-end.  If you're due a repayment of tax electronic filing should also speed things up.

There are now daily penalties for personal and partnership tax returns once the return is more than three months late.  Let us take the strain and deal with your tax return filing.

Where a UK taxpayer makes a gift to a charity under the Gift Aid scheme the gift is treated as having suffered tax at the basic rate, which the charity can reclaim.  For example, a gift of £80 is treated as if the taxpayer had paid over £100 less tax at 20%. The charity can reclaim the £20 from the Treasury and if the donor is a higher rate taxpayer (40%) their income is reduced by £100 and they receive a further £20 of tax relief. Therefore a £100 gift to charity has only cost the taxpayer £60.

The Gift Aid scheme can provide a tax planning tool for higher rate taxpayers who wish to reduce their income for tax purposes. Where an individual’s income exceeds £100k their personal allowance will be reduced at the rate of £1 for every £2 of income over £100k. A Gift Aid payment can be used to reduce income below £100k so full personal allowance can be claimed as well as the higher rate tax relief on the gift aid payment.