Welcome to RB Taxation Services
RB Taxation Services is a specialist practice with particular expertise in personal and capital taxation. With experience both inside and outside of HM Revenue & Customs, we are happy to advise regarding tax problems as well as to help clients with their tax returns. We welcome the opportunity to advise clients not only when they have incurred liabilities but also when they are contemplating transactions, want someone to review advice already given or are simply looking ahead.
At RB Taxation Services, we aim to help clients to claim relevant deductions and reliefs available within the law and to provide tax advice which is tailored to suit their particular circumstances. We like to propose solutions which fit the needs and personality of those involved and we recognise that, even at similar stages of life, people have different aspirations and financial priorities.
About Us
The practice was established more than 20 years ago when, from premises in London, we worked for clients in both the Home Counties and the local area. Since that time, we have specialised, to some extent, in personal taxation, including advising in connection with capital gains tax and inheritance tax.
Each member of our technical team has a background in taxation and, between them, they have more than 40 years’
experience in the profession. Prior to this, they acquired considerable knowledge and practical understanding of the workings of HM Revenue & Customs in the Capital Taxes Office and income tax office of HMRC and, in addition, they undertook relevant studies and examinations. Of course, taxation is an ever-changing field and the firm’s policy is to encourage learning and training in order to keep up to date.
Latest News
The Chancellor’s Budget Statement 6th March 2024
Jeremy Hunt’s announcements did not end speculation as to the timing of an election but nevertheless included some measures aimed at easing the tax burden on earners and families, whilst also introducing some tax increases to cover their costs. The politically charged atmosphere left open the possibility that the Government may intend to announce some further fiscal changes in the Autumn…
Significant changes are:
- The main Class 1 national insurance contribution (NIC) rate will drop from 10% to 8% from 6th April 2024, the second cut in six months.
- The main rate of Class 4 self-employed NICs will similarly reduce from 8% to 6%.
- The high-income child benefit charge (HICBC) will be reformed. Meanwhile, the threshold increases to £60,000 from April 2024, while the rate at which the charge is levied will be halved, so that child benefit will not be fully withdrawn until an individual’s income reaches £80,000.
- For residential property disposals, the higher rate of capital gains tax (CGT) will be cut from 28% to 24% from 6th April 2024.
- The furnished holiday lettings tax regime will be abolished from 6th April 2025.
- From 1st April 2024, the VAT registration and de-registration levels will be increased to £90,000 and £88,000 respectively.
- The non-domicile rules will be replaced with a new regime based on residence from April 2025.
- Multiple dwelling relief within the stamp duty land tax (SDLT) regime for England and Northern Ireland will be abolished from 1 June 2024.
- Alcohol and fuel duties are frozen.
As usual, the Budget publications contained a range of detailed proposals and, if you have any questions or would like to discuss how anything in the Budget may affect you, please contact us.
Disclaimer: The material contained in this news item neither purports, nor is intended, to be advice on any particular matter. RB Taxation Services cannot accept any responsibility or liability to any person (whether a client or not), in respect of anything done or omitted to be done by any such person in reliance, whether sole or partial, upon the whole or any part of the material in this news item.
© RB Taxation Services – 8th March 2024
Our Services
Capital Gains
Computations & Reliefs
We prepare calculations or estimates based on information provided by you (this would include advice requested in connection with a prospective transaction)
we advise you regarding any relevant claims, elections or reliefs which may be available
if requested, we advise you regarding the entries required on your tax return
or, if we are preparing the return, we complete the relevant entries and prepare any necessary claims or elections
Tax Return
Completion
we prepare tax returns for a wide variety of clients: we use information provided by you or supplied by third parties in order to complete the returns for your approval
we try to ensure a high level of accuracy in order to assist you in complying with your obligations and minimise the risk of enquiries
we calculate your liabilities under self-assessment and advise you thereon
we advise you regarding any relevant claims or elections which may be needed and, from time to time, we may make suggestions to minimise future tax liabilities or improve tax-efficiency as a result of a review of your tax position
Inheritance Tax
Considerations
following a request from you, we should be happy to review your assets, how these are held and the potential liability of your estate to inheritance tax
Our review would take into account also your current needs and your current income including pensions, income from business interests, investments and/or property, as well as the estimated capital values of the assets mentioned above
we should then discuss with you possible actions which you might wish to take in order to carry out your estate plan effectively and mitigate the potential liability
if appropriate, we might refer you to financial advisers or other specialists (e.g. if legal work is required)
Negotiations with
HM Revenue & Customs
we are happy to advise you if you have received an enquiry or some other communication from HM Revenue & Customs
our approach would depend on the nature of the enquiry and this would be discussed with you
we should then need to establish any relevant facts and, if appropriate, to prepare a report or draft reply to HMRC for your approval
we should then respond and, if necessary, negotiate with HMRC on your behalf
