Tax Planning

Through tax efficient saving and investing, you can make your money work harder for you. By making our clients more tax efficient, we may be able to reduce an individual’s tax liabilities by making use of allowances, exemptions, and other benefits as appropriate.

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We can help

See below for the most common areas of tax planning we can provide advice on,

  • Income Tax planning, including utilising of your personal allowance, dividend allowance, personal savings allowance and starting rate bands where applicable
  • Inheritance Tax planning, including gifting, trust planning, and intergenerational wealth planning
  • Capital Gains Tax planning, including utilising your annual CGT exemption and inter-spousal transfers
  • Tax planning for the self-employed
  • General tax planning for high earners

Tax treatment varies according to individual circumstances and is subject to change.

Why is tax planning important?

Tax planning will enable your money to go further. Some of the main reasons for looking at planning tax might be to get greater control over tax payments or the timing of those payments; a reduction in your exposure to certain tax rates, or to reduce your tax bills overall. Taking full advantage of tax credits is helpful, plus it also helps to be aware of tax legislation, which is always changing almost on an annual basis.

For most of us, there will not be too many opportunities to make use of tax planning. The vast majority of people have one source of income: their employment. If you are employed, tax is deducted at source – before you receive your pay.

But that should not prevent you from saving and investing tax efficiently, and making use of your allowances.

How can I make the most of tax allowances?

The starting point is to find out which allowances are available to you. Then, it is really a matter of working out whether your income and assets could be structured more tax efficiently by making use of these allowances. So after you have done that bit of homework, unless you are comfortable doing it yourself, you should seek professional help.

A financial advisor should be able to provide comprehensive planning of tax advice for a wide range of clients and needs.