At its simplest level tax planning can help you keep as much of your money as possible while staying on the right side of the law.
But it is not just about minimising how much tax you pay. Planning ahead can help you achieve your businesses goals and long-term financial security.
We help small and family-run business and individuals manage their finances without giving too much to the taxman.
Areas we discuss include:
Inheritance tax
Although inheritance tax is charged at 40% on estates valued at more than £325,000, there is plenty of scope to legally reduce your liability.
This includes:
- giving to charity
- making gifts during your lifetime
- transferring assets into a trust
- using life assurance policies
- advice on structuring a will to transfer assets in a tax-efficient way.
Capital gains tax
Beyond the annual tax-free allowance, there are numerous strategies to manage your exposure to capital gains tax including:
- gifts to spouses, civil partners and charities
- timing your disposal to delay payment
- using losses to reduce chargeable gains
- making use of any reliefs you qualify for.
Other areas of expertise
We also have extensive experience in:
- minimising corporation tax
- tax on director’s loan accounts
- clearing out employee benefit trust loans.
Want to know more?
We can work with you to develop a tax planning strategy that works for you. Get in touch to discuss your situation.
