Personal tax planning
Our services are not restricted to businesses and we have a large core of personal tax clients. Whether you need assistance with your self assessment tax returns or advice on inheritance tax planning, we can help you.
Our dedicated team can provide the following services:
- Advice on minimising tax liability for all personal taxes including:
- Income tax
- Capital gains tax (CGT)
- Inheritance tax (IHT)
- Non-domiciliary taxes
- Completion and filing of relevant returns
- Advice on what payments are due and when
- Advice on trusts and estates
Estate & inheritance tax planning
Early planning is crucial when making arrangements for the future of your estate upon your death. Such forethought may enable you to take full advantage of the tax opportunities available and thus maximise the amount that is passed to your beneficiaries.
We provide a discreet estate planning service that includes:
- Help with drawing up and reviewing your Will
- Making full use of exemptions and lower tax rates on lifetime transfers
- Optimising lifetime transfers between spouses
- Transferring agricultural or business property
- Transferring assets into trust
- Arranging adequate life assurance to cover potential inheritance tax liabilities
Trusts & executorships
Trusts are relatively easy and very tax efficient way to set aside assets for future beneficiaries outside of the inheritance tax net. They can also be useful for:
- Providing funds for your children's education, maintenance, etc.
- Restricting access to property by future beneficiaries
- Providing for people who are mentally or otherwise incapacitated
We can advise on the most suitable type of trust for your purposes, set up trusts, and provide a full range of accounting services for trusts.
At a time of bereavement, we can advise you what to do when somebody dies, whether or not they left a Will. We will deal sympathetically with the administration of the estate and relieve you of the worry and responsibility of:
- Obtaining probate valuations
- Preparing HMRC accounts
- Applying for probate
- Settling the debts of the deceased
- Paying legacies/ transferring property
- Preparing estate accounts
Planning for your eventual retirement can easily be overlooked, especially if you are concerned with the day to day running of a business. Yet with careful and timely planning you will be able to make the most of the options available.
We can assist with the following:
- Devising an exit strategy
- Tax-efficient disposals
- Management buy-outs
- Pension provision
Many taxpayers struggle to understand the complex tax returns and complete them correctly. Furthermore, ongoing changes to tax legislation mean that taxpayers risk incurring more penalties through failing to complete their returns on time or correctly.
We aim to ease the stress often caused by self assessment and help you avoid costly mistakes, by offering a comprehensive self assessment service.
We can relieve you of the self assessment burden and save you time, worry, and money by handling this process for you. We will do all the necessary computations, complete your return, and even offer advice on how you can minimise your tax liability.
We can deal directly with the HM Revenue & Customs on your behalf and, should you be selected for a self assessment enquiry, act for you at any meetings.
We can help ensure that your personal wealth is managed as tax-efficiently as possible. We can advise with:
- Personal tax planning
- Extracting profit from your business
- Remuneration strategies
- Tax-efficient savings and investments
- Planning for a comfortable retirement
- Estate and inheritance tax planning
- Gifting strategies
For a comparatively small additional fee each year, discuss current and future investments/transactions with us and find out about ways to reduce your tax liability. If you are currently involved in any tax investigations, contact us to find out if we can help. Please contact us for more information or telephone us on 0121. Although based in Birmingham, West Midlands, our Personal Taxation services are used by clients throughout the whole of the UK and beyond. Don’t forget to subscribe to our 647 5030Newsletter for all the latest updates and please feel free to interact with us via our Social Media sites and Blog.