Personal tax planning

Looking after those closest to you often means you need to do as much as possible with the income at your disposal. With lots of tax to pay, this can be a real challenge, especially if you don’t have the time or resources to dedicate to lowering your bill.

As accountants, business advisers, and confidants we can find the solutions to your tax liabilities in an efficient and effective manner. We’ll make use of all our years of experience and knowledge to find you savings through things like capital gains tax (CGT) reliefs, saving you money on the sale of assets including residential properties.

Taxes and credits themselves are effectively the Government’s method for rewarding and punishing actions within the world of business. Certain items are taxed more heavily than others, whereas some actions receive relief or credits because the Government wants to encourage them – contributing to a pension, for example.

You can also get relief through gifting certain items to family members throughout your lifetime – something that will help reduce your estate’s inheritance tax bill after you’re gone. With careful planning, this is a very viable way to reserve wealth within your family.

If you’re self-employed, proper planning will benefit you greatly. Company directors can pay less tax by putting their personal allowance for tax lower than the threshold, and topping up their wages via dividend payments, which are taxed at a lower rate than income.