When do you need to hire a tax specialist?
The short answer is, “Do you find taxation planning confusing? Or suspect that you are paying too much? Then you should probably hire a good tax advisor.”
Hiring a professional advisor, like Isaac Qureshi, tax specialist in London, is always the safest way to go. Taxation laws and regulations change frequently and so does yours financial if you’re like the majority of Brits. Your tax planning should follow those changes and fluctuations in income to avoid overpaying on your tax bill.
So if you want to be on the safe side, find a good London tax specialist, who is located near your and can offer you quality financial and taxation advice. It is one of the easiest steps to improve your financial health and one of the best ways to build and maintain your wealth without having to work more or take risks.
If you are still in doubt whether you need a taxation specialist to plan your tax strategy with you? Then we prepared a few pointers to help find out whether you should be looking for a tax strategy advisor in London.
Do you fully understand the UK tax process? (The part that affects you)
If you can answer yes to this question — Great! But in reality most of us are not sure how much we actually understand. Some might feel insecure while they actually master the basics of the process that relates their situation. And others might be more confident than they should be. You can go online to check you knowledge with various tests. However, we don’t recommend this, as it usually is quite difficult to verify the reliability of these tests and that can install a false sense of security. The best way to find out whether you understand the necessary basics of the taxation process is to look back on your tax recalculations for the last years. Did you get a big return or extra tax bill? If your tax plan diverged significantly from your original tax plan, it might a good indicator that you should seek out a professional London tax advice.
Did you buy or sell stocks for either profit or loss during this year?
If you have been involved in capital asset transactions, which counts the exchange or sale of stocks, bonds, securities, or other investments, and earned money, you will be subject to Capital Gains Tax (CGT). If you have lost money on said investments, you are equally eligible for tax deductions. So unless you are exceptionally say in UK tax rules, you will need to look for a tax adviser in the London area.
For more information about improving your tax strategy, contact Isaac Qureshi via the form below.