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Tax Returns for a Surgeon who had shifted part of her practice

by Apr 13, 2020Case Studies

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.

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