Trying to navigate the many rules, regulations and allowances around tax liability for individuals, married couples and businesses can be confusing, and many people pay more tax than they need to.
Individual tax planning can be particularly important when approaching retirement age. We can help you to become more tax-efficient through careful planning and forward thinking, so you only need to pay what is strictly due.
Our expert advisers can help you with:
Thanks to the married couples allowance, if your spouse’s income is low enough, he/she can transfer some of their personal tax allowance to you so you save on tax as a couple. You are also able to transfer some shares from your business to your spouse to save tax on dividends.
Capital gains tax
Due when an individual sells assets, most commonly a house or other property. With thorough planning, we can arrange transfers of assets and a reduction of your liability.
Trusts and estates
Setting up a trust for your estate can enable your property and assets to temporarily vest in personal representatives in the event of your death. Special rules apply to the taxation of income and property during this period, and tax planning that works with anti-avoidance regulations can work well for all those benefiting under a trust.
We can advise you on how you can use pension investments to save both income tax and corporation tax.
Inheritance tax (IHT)
Any individuals resident in the UK will be liable for IHT on any gifts and assets transferred to them after the death of a friend or relative. Our team will be able to advise how you can save your beneficiaries as much IHT as possible.