Client Overview:
Client B was a surgeon who had just shifted a part of her practice private.
At a Glance
Problem Statement:
- sudden tax requirements
- obligated to fulfill on his own
- along with their computation.
- he approached us to help her with them.
Solution
- Check for double taxation by advising her of “basis periods” model
- Cash flow analysis for income projection in order to estimate future tax payments
- Highlight her, her liability to NI being a part employed and part self-employed individual
- Completion of respective forms
- For the time being, we also applied for a deferment to prevent her from overpaying NI.
- Recommendation of an LLP Structure for better management of her UK Tax Liabilities.