Tax and Internationalisation
Self-Assessment
All of our customers will need to file personal tax returns. This process is time-consuming and annoying for individuals who often do not have the time and the competencies for these law legal requirements.
An individual needs to submit a tax return if he/she receives an income:
• Arising from self-employment
• Foreign companies.
• Capital gains
• Dividends, rents and savings
• Over £100,000 per year
N.B. also company directors may be required to file a tax return
The Income Tax, which is due on personal income, is divided into three main rates, which vary from 20% to 40% up to 45% (see table below).
Table: Income Tax in UK
|
Salary thresholds in UK |
Percentages |
|
£11,851 to £46,350 |
20% |
|
£46,351 to £150,000 |
40% |
|
Over 150.000 |
45% |
WellTax ensure a high level of expertise and accuracy in determining the entitlement to pay the Income tax and to be eligible for any tax reliefs. Our highly qualified staff has extensive knowledge and experience in the taxation and accounting and offers solutions for every need and information on personal tax return. All this is done through a customised service aimed at the customer financial well-being.
