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Tax Planning

Whilst tax is virtually unavoidable, it is an event driven charge which means that you can plan, in advance of the event (in most cases) and therefore look to reduce the tax charge that the event may create by utilising a variety of reliefs and allowances.

This isn’t through the use of contrived or artificial tax schemes but through our knowledge of the legislation.

Examples, of some regular issues we help clients with, are:

  • The acquisition or sale of a business
  • The acquisition or sale of a property – commercial or residential
  • Passing on business or personal assets to the next generation
  • Buying out business partners and business valuations
  • Business and company re-organisations including mergers and de-mergers
  • Remuneration strategies
  • The declaration of a dividend or bonus by a company owner
  • Share schemes for employees – unapproved and approved options such as EMI
  • Inheritance tax and estate planning
  • Tax reliefs including research and development tax credits
  • Patent Box relief
  • Marriage, divorce and death

It may be that the events  has already happened but that you still need to consider tax planning in view of changes in legislation.

Keeping on top

Tax is constantly changing – regardless of the HMRC rhetoric that “tax doesn’t have to be taxing.”

The changes are due to a variety of issues such as annual budgets which change tax rates and allowances, as well as possibly introducing new reliefs or reducing the impact of other reliefs. In addition, throughout the year there are changes in HMRC interpretations of law, tax cases resulting in new case law and the potential for HMRC to make changes to the statute.

We keep on top of these changes through not only regular professional development but also through our membership of Kreston International, where we regularly share tax planning ideas with colleagues within the Kreston network.

Our tax news page will offer ideas and suggestions that individuals and business owners need to consider on a regular basis, in respect of their tax affairs.

However, a meeting or discussion with us, is always best as situations can be unique to you.

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