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Tax planning advice

Tax planning advice

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Tax planning advice is essential to us all. If you are employed, a sole-trader, in a partnership or the director of a limited company, then personal and business tax planning should be important to you. Tax rates, and the relevant tax laws change often, and it is important to keep abreast of the changes and how they may affect you personally via professional advice. This is all part of the tax reduction processes.

You may run a business but also have private income from other sources, in which case your complicated tax arrangements should have the benefit of a tax specialist, and possibly a legal tax specialist, and not simply an accountant.

You deserve to hang onto as much of your cash as you are legally entitled to, and a great many people pay too much tax. It is not a case of trying to stretch the law, it is a case of using the detail of the law to save yourself money, detail that you may not be aware of. If you are not dealing with a professional tax adviser then there is every chance that you are paying too much personal or business tax. If you are a company director or in a partnership, or are self employed, then you will already have an accountant, but you may not enjoy the full benefits of a tax specialist.

You may consider that such a tax specialist might be expensive. Tax specialists typically get paid if they manage to help you make a great saving, they don’t typically charge by the hour. 

We can often reduce a client’s tax substantially, using existing tax laws, and without
bending or breaking those particular laws. Those tax regulations and laws are there in black
and white for everyone to see, but few actually take the time to study them.That’s where a professional tax specialist comes in, a tax reduction specialist. Such people
do not inventing new schemes, but assisting you to interpret – and to benefit from – some very
old schemes.

Tax planning adviceThe first step is an email introduction, an exchange about what your circumstances are and
what you wish to achieve, perhaps a telephone chat or face-to-face consultation, and then we
should be able offer you carefully crafted a solution. We do this all day, every day.
You are knowledgable about your particular business, but leave the mechanism of tax avoidance
to us – we are expert at our business.

Inheritance Tax may be due on everything you have when you die, the value of your estate – assuming that you are leaving your estate and goods to someone like a child or surviving sibling. This would include the house, any savings, financial investments, personal belongings (of any value) but also a percentage of the value of anything you might have given away in the previous 7 years. The first GBP 325,000 is tax free (the threshold, often referred to as the nil rate tax band) whereas everything above is taxed.

This tax is due to be paid “before” the estate can be distributed to the next of kin. By careful tax planning in your will we should be able to reduce the final amount of tax payable upon death.

Contact us for details of how we can help you with your particular inheritance tax (IHT) circumstances.