Personal tax planning primarily seeks to cancel, reduce or defer your liability to:
- Income tax
- Capital gains tax
- Inheritance tax
- National Insurance Contributions
Sometimes planning may impact on more than one of these at a time. A tactical transfer of assets to a spouse or use of trusts, for example, can increase tax relief available and reduce overall liability.
Also planning on the timing of sale of assets may reduce capital gains tax.
If appropriate, or at your request, we will undertake a review in conjunction with our wealth management department, who will consider planning perspectives to include pensions, trusts and investments, etc. Joined up, independent advice which works to your advantage.