TAX PLANNING

If you would like to discuss any of the issues outlined below, please contact us.
Our motto is: "ATTACK TAX"!

It is always the right time to consider taking action to
  • shelter current year income and gains
  • plan to structure your personal or business affairs so that you minimise the amount of tax and NI you pay
  • look to the future to plan succession or a sale
  • consider inheritance tax planning
Tax planning is even more important right now, to shelter profits and gains, especially as we constantly hear of yet more Anti-Avoidance legislation, the increasing rhetoric against even charitable giving; high income tax and VAT rates.

Tax planning might be general in nature, aiming to structure a business to minimize the tax costs arising on profits, or might be bespoke, mitigating the tax effects of particular income or gains.

Available planning techniques cover:
  • structuring the business to minimize tax costs
  • income tax mitigation
  • capital gains tax planning
  • tax-efficient offshore structures
  • tax-efficient cash extraction for companies (with a company tax deduction) and trusts (including offshore trusts with accumulated gains).  This also may benefit UK resident non-domiciled individuals.
  • General advice on day to day transactions

All tax planning must stand up to scrutiny and be based on the accepted tax treatment of genuine transactions.  We do not recommend artificial 'schemes' that depend on dressing up the nature of a transaction and relying on a dubious interpretation of the law.  Our expertise enables us to understand our client's situation and future plans and tailor advice to achieve their aims.  Our skill and experience with tax means we can suggest ideas with confidence.

Whether the tax planning is simple or sophisticated, our approach is always the same: understand the client and what their plans are; know the effect (and risks) of the suggested planning; and decide what action to take in a partnership of understanding and agreement.

Planning does not have to involve extraordinary measures.  Sometimes, the simplest ideas can reap substantial tax savings.  It's always worth having a look at the situation, to see what can be done.

Generally, early action has the best chance of saving tax.  It's not always possible to save the tax on a transaction, after it has occurred.

IT'S NEVER TOO EARLY TO TALK!
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