Personal Tax

Our team specialise in providing commercially optimised personal tax planning, with the aim of preserving wealth. No situation is the same so we will always spend time with you to understand your needs and to tailor our advice accordingly.

Self-assessment and personal tax planning

With over 25 years’ experience our personal tax manager will provide you with practical advice on personal tax positions and the planning opportunities available to you. We will complete and file your self-assessment tax return and advise you on exactly when and how much to pay. Our advice is geared to:

  • Self-employed traders, partnerships and LLPs
  • Company directors, LLP members and HNW individuals
  • Non-resident and non-domiciled individuals
  • Trust Beneficiaries
  • Property owners, including non-resident landlords

Keeping abreast of developments and the application of Finance Acts, we helped our private clients seize the following tax planning opportunities in 2016-17:

  • Income tax planning for UK nationals
  • International tax planning for non-UK residents, including establishing UK tax residency
  • Investing in the Enterprise Investment Scheme (EIS) and the Seed Enterprise Investment Scheme (SEIS) to actively reduce income tax and capital gains tax liabilities
  • Capital gains tax reliefs
  • Carry-back of trading losses
  • Incorporating let properties into a company
  • Claiming tax-relief on pension contributions and protecting pension pots

Succession planning and Inheritance Tax (IHT)

The time to think about succession planning is now. Whilst your estate is likely to attract IHT, we view IHT as entirely optional because of the reliefs that are available. We are here to advise you on timely tax efficient planning to help maximise the benefits of your estate for your loved ones.

We formulate our advice based on your tolerance for risk and any liquidity, legal or other unique considerations that may be relevant. We will spend time with you to understand your personal circumstances, your other sources of income, how your business is structured and when you plan to realise your investments to make sure that we are accurate and comprehensive when it comes to estate planning. Our advice will always seek to balance the two main concerns clients have with inheritance tax planning: the loss of access to income/capital and the loss of control over the assets themselves.

Our discreet and comprehensive succession planning encompasses:

  • Help with planning and reviewing a will
  • Making full use of exemptions
  • Optimising lifetime transfers
  • Transferring business or agricultural property
  • Transferring assets into trust
  • Arranging adequate life assurance to cover potential inheritance tax liabilities

As independent advisors with no family involvement or bias, our experience can also help with family business consulting. We can help you understand issues affecting the family business and encourage discussion within the family, finding the most positive way forward.

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