UK Tax Returns | Progeny

Working with Progeny

Completing your annual tax return can be complex, time consuming and confusing. Our team of experts can take away the hassle.

We provide a fast, efficient tax return compliance service to ensure that you know what to pay and when to pay it. We can also obtain the information directly from your banks and investment advisers to avoid you needing to collate and send information to us.

Thanks to our tax planning expertise, we can also look for opportunities to minimise your tax liabilities by taking advantage of your (and your family’s) allowances and rate bands.

We can also prepare your tax returns if you have investment portfolios, rental properties, trust income or overseas interests.

Already a client?

As a current or new client of Progeny, you may be entitled to a complimentary tax return or a contribution included as part of your overall package. Please speak to your adviser to find out more.

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Over 40 years’ experience

With over 40 years of experience, we offer unparalleled expertise and trusted guidance to help you achieve your financial goals confidently and effectively.

Recognised by eprivateclient

Progeny Law and Tax have been selected as one of the Top Law Firms by eprivateclient which recognises the top private wealth law firms and departments across the UK.

Nationwide

With offices throughout the UK, we offer face-to-face services nationwide, giving you the opportunity to meet your planners in person to discuss your specific needs.

Capital Gains Tax planning

If you are considering your exposure to Capital Gains Tax (CGT) it’s important to understand what liabilities you have. What tax rate do you normally pay? Are your profits under the annual allowance? Are the assets you have sold liable to CGT?

Basic tax return

Employment income, benefits in kind and expenses

Pension income

Bank interest

Claims for Gift Aid payments and pension contributions

Standard tax return

Employment income, benefits in kind and expenses

Pension income

Bank interest

Claims for Gift Aid payments and pension contributions

Investment income from your Progeny portfolio including a small number of Capital Gains Tax transactions

One rental property income and expenditure account

Complex tax return

Employment income, benefits in kind and expenses

Pension income

Bank interest

Claims for Gift Aid payments and pension contributions

Investment income from your Progeny portfolio including multiple Capital Gains Tax transactions

More than one rental property income and expenditure account

Trust and estate income

All you need to know about tax returns

What is a tax return?

Tax returns generally apply to people with a large amount of income, self-employed people, people living overseas who are receiving income from a property letting in the UK, UK residents with foreign income and people with a large amount of investment income or gains. You can also use the form to claim tax allowances and reliefs. The tax return form can be submitted to the HMRC either by paper or online.

Do HMRC automatically refund overpaid tax?

HM Revenue usually do not automatically refund overpaid tax and you may need to reclaim overpaid tax yourself. There are time limits for making an overpaid tax claim and applying for a tax rebate. It is important to manage your finances effectively, so you don’t miss any tax claims you are owed.

Do expats have to pay taxes?

Even if you are not UK resident you can still be liable to pay UK tax as an expat. You must also be mindful of any taxes due where you are living overseas. You must inform the HMRC if you’re leaving the UK to live abroad permanently or going to work abroad full time for at least one full tax year.

Which countries tax citizens living abroad?

The UK are one of the countries which can tax their citizens living abroad if they are still classified as a resident. If you’re not a UK resident, you will not have to pay UK tax on your foreign income but your UK income generally remains taxable. If you sell any land and property in the UK that will remain taxable too.

How to file expat tax return?

If you are non-resident it is not possible to submit online using HM Revenue systems, instead you must use one of the following options:

Complete a Self Assessment tax return and a SA109 form (the residence pages for your tax return) to send by post.
Submit using commercial self-assessment software which supports SA109 reporting.
Hire a tax professional to report your UK income for you.

How is a tax refund calculated?

The amount of tax you are due to pay is determined by your sources of income and gains, available tax allowances and tax bands. Tax is most usually deducted at source from employment and pension income and sometimes too much tax can be withheld. However, if you are leaving the UK, the HMRC will work out if you’re owed a refund for the tax year you’re leaving the UK. In order to qualify for this, you need to fill in a P85 form and send it to the HMRC before you leave the country.