Personal tax
You make money; you pay tax. It is as simple as that.
Tax comes in many forms – PAYE for those who earn a wage or salary, plus perhaps some extra tax to pay if you receive benefits-in-kind, or share options; pensioners pay tax through PAYE too, on their pension income; you pay income tax on your rental income, subject to some deductions for your expenses; tax on your savings and dividends, unless they fall within one or other of the tax-free limits allowed; and of course you pay income tax and National Insurance on any business profits that you earn in your own right, or through a partnership or limited company.
What could be more straightforward than that. How do you know though whether you are paying the right amount of tax. Can you rely on the PAYE system to get things right, even in normal circumstances let alone where things change – eg, a tax underpayment from a prior year. How do you know what expenses you can claim for, and which you cannot. When should you put an explanation on your tax return if it contains some unusual or significant features.
How do you deal with H M Revenue and Customs if their system says that you have not complied with their rules, even though you have, and asks you to pay a fine.
If you have a windfall, some unexpected income, are there any special allowances you can use to set against it? Do tax wheezes work?
And what about capital gains tax, if you sell a property say or some stocks and shares, or a business that you have built up. Does the tax system treat you harshly or kindly, and how can you organise things in the best possible way to save tax.
For answers to all these questions, and more, speak to Nicholas Ridge CTA.
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Not discriminatingPublished on: September 26, 2020Not discriminating You might have thought that the principal objective of the Chartered Institute of Taxation would be: How to…Continue reading » -
2020 Budget commentaryPublished on: March 13, 20202020 Budget commentary We were last able to use the term "expansionary Budget" when Geoffrey Howe was Chancellor of the…Continue reading »
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Dispassionate critique of HMRC Personal Tax AccountsPublished on: February 29, 2020Dispassionate critique of HMRC Personal Tax Accounts In Tax Adviser, Bill Dodwell offers a half-time commentary on the roll-out of…Continue reading »
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Tax StatsPublished on: March 2, 2019TAX STATS How large a share of national income, should the taxman take? 20%; 60%; somewhere in the middle? A…Continue reading »
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Budget Commentary 2018Published on: November 1, 20182018 BUDGET COMMENTARY The tone of the Chancellor's speech, one of confidence placing faith in the UK's economic future, is…Continue reading »
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Taxation of WoodlandsPublished on: January 13, 2018Taxation of Woodlands Woodlands are a welcome feature of the landscape in the Meon Valley where Nicholas Ridge CTA is…Continue reading »
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Take Your PickPublished on: December 12, 2017UNDERSTANDING SME TAX EVASION HMRC has published independent research which discusses the attitude of small and medium-sized businesses (SMBs) to…Continue reading »
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What records to keep and how to keep themPublished on: September 30, 2017What records to keep and how to keep them This article, reproduced from the September 2017 edition of Tax Adviser…Continue reading »
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CIOT Autumn Tax ConferencePublished on: October 31, 2016CIOT AUTUMN TAX CONFERENCE - 1 Why was Nicholas Ridge CTA looking forward so eagerly to the Autumn tax conference…Continue reading » -
CIOT Autumn Tax Conference – 2Published on: October 31, 2016CIOT Autumn Tax Conference - 2 Do the reforms of the former Chancellor George Osborne of the treatment of pension…Continue reading » -
Why not to pay tax on savings – The new paradigmPublished on: May 11, 2016Why not to pay tax on savings - The new paradigm Following recent tax changes, couples can now expect over…Continue reading » -
UK Tax – The New Basic Rate ParadigmPublished on: May 10, 2016UK Tax – The New Basic Rate Paradigm Could you live on it? In the year from 6 April 2016,…Continue reading » -
Budget Commentary 2016Published on: April 3, 2016Budget Commentary 2016 SPRING BUDGET BULLETIN Following the immediate furore surrounding this year's Budget, this bulletin takes stock of some…Continue reading » -
Budget CommentaryPublished on: April 3, 2015Budget Commentary A politician yesterday announced the official end of austerity, in his Summer 2015 Budget. From now on, reduction…Continue reading » -
UK Tax Residence – the EssentialsPublished on: October 31, 2014UK Tax Residence - the Essentials This Article, reproduced from the October 2014 edition of Tax Adviser is unusual. Why?…Continue reading »
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Meon Valley Landowners, Farmers and their Advisers – essential revision materialPublished on: October 31, 2014Meon Valley Landowners, Famers and their Advisers, Read On This article, reproduced from October 2014 Tax Adviser, is essential revision…Continue reading »
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Advice about building a wine portfolioPublished on: April 5, 2012Advice about building a wine portfolio 10 Key Principles offered by wine merchants Justerini & Brooks for building a fine…Continue reading »
ABOUT NICHOLAS RIDGE
Nicholas Ridge operates as a Chartered Accountant and Chartered Tax Adviser under his own name, Nicholas Ridge CTA, in the Meon Valley in Hampshire.
For many years, Nicholas and Elizabeth Ridge Chartered Accountants and Chartered Tax Advisers ran a successful high street practice in West London. Their client base included individuals and businesses, and specialisms involved personal and business tax; not-for profit businesses; artists and professionals; and business start-ups
Their partnership merged with PK Group in 2013, at which point they moved to Hampshire