Personal Tax Planning

The personal tax system is becoming more and more complex with ultimate compliance and filing responsibility falling on the shoulders of the taxpayer. To optimise a taxpayer’s position requires sound professional advice. This can be offered by us along with completing your tax return.

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When looking at your annual tax liability we include:

• Income tax

• Capital gains tax

• Inheritance tax

• Trusts and estates

• Non-domiciliary tax issues

 

Every pound of income tax you save means more income at your disposal, every well planned disposal of assets means minimal loss of capital gains, and every inheritance tax saving means more benefit for your beneficiaries.

Make sure you take full advantage of the tax saving opportunities open to you - call us today for a personal tax planning review.

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We can also help with other personal issues including:

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Exit strategies
If you are in business, the first thing you need to consider is your exit strategy. Will you withdraw from the business, leaving it for the next generation, or will you hope to sell the business? If you intend to hand the business over, do you have a workable succession plan? If you intend to sell, how will you value the business, find a suitable buyer, etc.? Are you aware of all the tax implications of the timing of disposals?

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Pension provision
Do you have an adequate pension in place? Do you have the right type of pension? Are you aware of all the pension possibilities open to business owners and directors? Are you making full use of all your allowances?

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Savings and investments
Do you have the right balance between savings and investments, and is your portfolio split adequately between exposures?

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Life assurance and long-term care
Do you have adequate life assurance, and have you made provision for long-term care and medical insurance for you and your family in your later years?

We can help you answer all these questions and recommend solutions tailored to your particular needs.