Minimising Taxation Liabilities

Beyond assisting with preparation of Tax Returns, we regard it as part of our job to look to minimise clients’ tax liabilities wherever possible whether it is on recurring income or perhaps a one off item such as a bonus from employment or the business or a capital gain.  We now have a 50% tax rate for income over £150,000 and an effective marginal 60% rate for income just in excess of £100,000!  Capital Gains Tax is usually 28% although with careful planning it may be possible to take advantage of the 10% rate given to certain qualifying gains by reason of Entrepreneurs Relief.  Pension planning can also be important although for some there are quite tight limits on what can be contributed each year. 

We can also review your Wills and Inheritance Tax position with a view to minimising taxation liabilities for the family. 

Normally we would look to carry out a review and recommend planning measures which may reduce your tax liability considerably.  We can introduce you to providers of tax planning schemes which may be appropriate to a very small minority of clients. 

More than anything we look to keep matters straightforward and simple and we usually find that a review of a client’s circumstances will usually yield quite interesting and useful tax savings.

Contact Richard Holme or Mark Howard