Make sure you're paying the correct amount of tax!
One of the most frequent questions we get asked here at John Davies is something along the lines of 'am I paying the right amount of tax?'.
Why may this be the case? Well, individuals often aren't getting the tax advice they need. In fact, its been reported that tax reliefs are being significantly under-utilised and individuals and businesses are often overpaying taxes.
Here's a few facts for you:
Inheritance tax revenues have reached a record of over £5bn.
Marriage Allowance was claimed by less than 1 in 3 eligible taxpayers in 2016/17.
Multiple Dwellings Relief was claimed on an estimated 33% of eligible transactions in 2016/17.
An estimated 90% of eligible taxpayers are not aware of R&D relief.
So, we made it our goal to find the best way possibly to deliver valuable and actionable tax advice to our clients. As such, we're incredibly excited to announce we're now utilising Diagnostax - an exciting new tax diagnostic review that will generate an intelligent and complete consultation.
Over the coming weeks we'll be sharing the full details surrounding the tool and how you can get involved - keep your eyes peeled! In the meantime, please feel free to get in touch with the team to talk about the opportunities and services available to you today.