Tax planning
By taking advantage of the tax breaks and deductions available, you can reduce your liability and keep more of your hard-earned money.
A tailored approach, because no two positions are the same
Every individual and business has different tax planning needs. Our accountants and tax specialists advise on income tax, capital gains tax, inheritance tax and more, and we work closely with you to develop a strategy that meets your goals.
Good planning is an analysis of the whole financial position, arranged so that the parts work together and you pay the lowest tax legitimately available. It belongs alongside your business and investment plans, not bolted on at the end of the year.
Planning that happens before the transaction, the year-end and the deadline, when it can still change the outcome.
What’s included
Rates and allowances
Understanding which rates and allowances apply to your income so you pay the right amount.
Reliefs and deductions
Charitable donations, pension contributions and business expenses claimed properly.
Tax-efficient investments
ISAs, Venture Capital Trusts and Enterprise Investment Schemes considered where they fit.
Capital gains planning
Disposals of property, shares and business assets planned for timing and relief.
Inheritance tax
Lifetime gifts, exemptions and structures reviewed well ahead of time.
Self assessment
The return used as the record of the plan, with everything you are entitled to claimed.
The whole position, not one tax at a time
Tax planning can be complex and time-consuming, which is why it is worth getting professional advice. We help you navigate the system, identify opportunities and make sure you are paying the right amount of tax.
How a planning engagement works
Analysis
A full look at the financial position, income sources, assets and what you want to happen.
Options
The realistic options set out with the tax effect and the practical consequences of each.
Implementation
The chosen plan put in place, with the paperwork and elections handled properly.
Annual review
Revisited each year, because both legislation and your circumstances change.
Tax planning questions we get asked
Before the transaction and before the tax year ends. Most of the opportunities close on 5 April, and almost all of them close once a deal has completed.
No. We use the reliefs, allowances and structures that legislation provides. HMRC has many ways to detect inaccurate reporting and aggressive schemes, and we do not go near them.
Both, usually together. For owner-managed businesses the company and personal positions cannot sensibly be separated.
It depends entirely on your position. We will tell you at the outset whether planning is likely to be worth the fee, and we will say so if it is not.
A fixed fee for the piece of work, agreed in writing before we start.
Plan the tax before the year closes.
A conversation now is worth more than a return in January.