Wills, Probate, Tax & Trusts : Personal Taxation

Personal Taxation

Why Clients Choose Our Solicitors For Tax Advice

Tax tends to be associated with accountants and Independent Financial Advisers, with whom we work closely. But many people use our solicitors because of their specialist expertise in wills, Inheritance Tax and trusts.

You don’t have to be wealthy. Often clients come to us because they have received a payment from a trust and need to reclaim the tax because they are a basic rate taxpayer.

We can advise you on Inheritance Tax, Capital Gains Tax, Income Tax and any other taxation concerns you may have.

Contact Our Tax Solicitors – Request A Call Back

Get Help With Inheritance Tax

Most of our work centres on Inheritance Tax (IHT) because our tax solicitors specialise in wills and probate. We advise families how to benefit from tax exemptions and reliefs authorised and approved by HM Revenue & Customs (HMRC).

View our page on Inheritance Tax Planning. There you will find information on:

  • who is liable to pay IHT (and how to reduce that liability)
  • tax relief on property
  • HMRC rules on IHT-exempt gifts
  • paying IHT in instalments
  • how to deal with large Inheritance Tax bills that you can’t afford.  

Reducing Your Capital Gains Tax Liability

Capital Gains Tax is levied when you profit from selling assets – such as shares (not in an ISA), property or business assets – even if they are overseas.

Your main residence is exempt (unless you have let it out or the grounds and buildings are 5,000 square metres or more). Your car is also exempt, as are ISAs, PEPs, UK government gilts, Premium Bonds, betting, lottery or pools winnings.

Capital Gains Tax is payable on assets that have increased in value when they are moved into or are taken out of a trust.

Also, you have a tax-free allowance. This enables you to make a certain amount of profit from disposing of assets without having to pay Capital Gains Tax. Trusts also have an allowance but it is lower. Find out more here.

There are other ways of reducing your Capital Gains Tax liability. Contact our Commercial Department and we can refer you to a specialist adviser such as an accountant or IFA. 

Income Tax – Get Help With Self-Assessment

Clients ask us to help them complete their self-assessment tax returns. Often we are already acting for them in another matter such as making a will or setting up a trust. They enjoy the convenience of using one firm of expert professional advisers to handle all their affairs.

But you don’t have to be an existing client. We are happy to help anyone with their tax matters.

Bereaved families sometimes discover that a loved one got into difficulties with their tax affairs before they died. They need our help to sort out the Income Tax along with the Inheritance Tax and Capital Gains Tax.

Sometimes clients ask us to complete their tax self-assessment forms because they are worried about how long and complex they are. They don’t have time or they don’t relish the prospect of all that government paperwork. Whatever the reason, we are happy to help.

Need Help? Request A Call Back

Contact Coles Miller Solicitors today for expert help with your tax matters. Request a call back.

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