Personal Tax Planning

We have specialists in our Tax Team who can advise on any number of issues that are not everyday events.

When people hear the words ‘personal tax’, they tend to think about the deductions suffered under PAYE or the tax bill based on their business profits. However, the ways in which an individual can be taxed are numerous, if not regular.

For example, do you rent out a former home which you are now looking to sell? Capital Gains Tax (CGT) may be due, but certain reliefs and exemptions are available to reduce the amount liable.

Has your home increased in value over the last 20 years? In conjunction with other assets, this could mean your estate is liable to Inheritance Tax (IHT).

Have you moved to the UK from overseas for work and reviewed your residence and domicile status? You may not be required to pay tax on all your worldwide income.

With the tax regime becoming more complex and more emphasis being put on taxpayers’ individual responsibilities, you need such professional advice and support to optimise your tax position and ensure you meet all compliance requirements. You also need a ‘safe pair of hands’ to explain the consequences and implications of your personal tax position and what you can do to plan your tax affairs for your benefit.

Our expertise covers areas such as:

• Income Tax
• National Insurance (NI)
• Capital Gains Tax (CGT)
• Inheritance Tax (IHT)
• Trusts and Estates
• Non-domiciliary Tax issues
• Non-residence and Offshore issues.

Potentially, many thousands of pounds can be saved with even the simplest tax advice; all you need to do is ask us to review your affairs. Remember one pound less tax paid is one more pound for you to do with as you wish.