Retain all documentation that supports your eligibility to make a claim.
Report this claim to HMRC through a self-assessment tax return form.
Almost all circumstances involving tax can be difficult to navigate through from start to finish and the case of Entrepreneurs’ Relief commonly falls into that category. Fortunately, the team at Financial Saviour are adept at helping and advising with all types of tax situations.
We understand that there is a lot at stake for you when disposing of business assets so we want to ensure that Entrepreneurs’ Relief is right for you and that you receive the tax reductions that you deserve. We are happy to help at any stage in the process from assessing your eligibility to make a claim through to putting the claim in writing.
With the deadline for any business assets disposed of during the 2013/14 tax year now less than a year away, we want to ensure that everything is sorted for each of our clients months in advance to avoid any last minute difficulties.
If you are in need of a team to help guide you through the process of claiming for Entrepreneurs’ Relief and by the correct deadline, look no further than Financial Saviour. We know that every situation is different so tailor our approach to meet your own personal requirements.
It may seem as though there are a thousand different things going on when making any sort of tax request; so much to bear in mind with deadlines, facts and advice from all angles. Entrepreneurs’ Relief is no different, but, with a clear and structured plan, claiming becomes much less of a chore.
The tips above form the basis of your plan. Before any claims can actually be made, you must assess whether you qualify for Entrepreneurs’ Relief under the guidelines stated by HMRC. These conditions and subsequent criteria for each are outlined on our Information page.
Retaining all documentation in one place so you can access all the facts and figures quickly is extremely important in sorting your claim promptly, and if you are conscious of time, there is no harm in contacting HMRC to find out the relevant deadline for your claim.
The advice section is where Financial Saviour come in. We are always on hand to provide help and advice at any stage of your claim for Entrepreneurs’ Relief. Advice from an accountant is also strongly recommended if you are making a claim on your annual self-assessment tax return.