TAX PLANNING & SAVING
Are you paying too much tax?
Over the years we have found that many businesses and individuals end up paying much more tax than they ought to simply because they have not taken advantage of the tax saving opportunities available to them.
A study completed in 2015 found that the UK paid a staggering £4.9 billion more in tax than they should and 74% of taxpayers admit they haven’t done anything to reduce their tax waste in the last 12 months.
The research looks at four key areas of tax waste:
- individual savings accounts (ISAs)
- tax relief on pension contributions
- capital gains tax (CGT)
- inheritance tax (IHT)
We offer expert advice on tax planning and savings for any business owners, including looking at the most optimum way of paying shareholders or business owners using dividends or salary.
Our team will look into the shareholding of the company and look to pass on shares to the other members of the family or key personnel within the business, as well as opportunities for exiting the business which includes capital gains tax planning.
Tax planning and saving will also cover analysis of pension contributions and the timing of capital expenditure to help maximise capital allowances.