Tax Advice

As the legislation becomes more complex the need for efficient tax planning is crucial.

We seek to maximise personal wealth and reduce tax liabilities with the following tax services:

• Tax–efficient remuneration planning

We can help provide solutions to business owners looking to extract funds from their companies without suffering Higher Rate Income Tax charges.  We can help you to structure your remuneration package, so you can benefit from maximum remuneration after taxes.

• Inheritance tax planning

We can help ensure that you establish the appropriate structures to safeguard and pass down your wealth to future generations.  Without the proper planning in place you can risk passing on just 60% of your wealth to future generations.

• Retirement planning

Pension contributions made by your employer are tax-efficient as there is no tax to pay on this benefit, providing the annual allowance is not exceeded.  If you own a company you can also claim a business tax deduction on pension contributions which can be a tax-efficient way to extract value from the business.  With all of the changes to rules regarding pensions over recent years, you may, however, find that your pension no longer provides that best investment for your long-term savings.
We can help advise on the best alternatives such as using a spouse’s pension to provide a joint income in retirement, investing in ISA’s or using the Enterprise Investment Scheme.

• Capital gains tax planning

Capital gains tax is generally applied on the selling, gifting or disposal of assets if they have increased in value since receiving them.  For example, the gift of an asset to your children can be subject to capital gains tax. However, there are many tax relief opportunities available where exemptions can be applied and claimed. Both capital gains tax and inheritance tax should be considered together to achieve the best scenario from your estate planning.