As the saying goes, there are two things in life that are certain; death and taxes! However, just because they are certain, doesn’t mean that you shouldn’t maximise just how savvy you are in your approach to your Taxation Planning
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We can help you to plan your taxes in advance so that you are always aware of the amount that you should be paying and help you to find ways that work hand in hand with your personal financial situation. We will always consider where tax reliefs are possible, using our knowledge of personal and business tax to easily identify what you could be eligible for. We understand the steps in the system when carrying out a tax planning, so we can help you to lawfully minimise the amount of tax payable.
Changing Tax Law Environments
Every client is different and each circumstance we have faced in our years of experience as professional taxation planning accountants has brought new challenges that we have overcome. When providing you with tax planning services, we make sure the service is to your unique needs, taking into account your personal circumstances, the standing of your company and your individual finances. With each plan tailored to you and all tax advice provided in accordance to your needs, you can always be sure you’re getting the best service.
Both businesses and individuals strive to maximise each and every penny of their income by reducing unnecessary expenditure and a vital part of this is Tax Planning. During this process, there are three basic ways of reducing your taxes namely:
- Reducing your income, through managing your Adjusted Gross Income
- Increasing you tax deductions
- Taking advantage of tax credits
This is unfortunately a little trickier than it may sound as these factors directly and indirectly may impact various other sections of your business or personal finances, including elements such as access to financial aid programs, mortgage and lenders, retirement plans and many more.
Even though paying taxes is an essential part of society that helps keep the country running smoothly and provides essential public services, it still pains each and every person when they have to pay a portion of their income to the taxman. The taxation landscape is an ever changing one and no one wants to be caught off guard when it comes to preserving their financial health and well-being.
For these reasons it is critically important that you seek out professional advice and assistance so, because our experienced professionals understand that tax planning has integral interlinks with the rest of your financial and corporate planning. We help you form effective synergies between your taxation strategies and your financial planning, which help you optimise investment and savings. Start saving more today and have more cash for the things that really matter to you.
We care for our clients. Building and maintaining fantastic relationships is what we do best, we will never treat you as a number which is what makes our approach so unique. The highest level of customer service combined with a keenness to listen and work together with our clients means that we leave a stream of happy clients in our wake every single day. Our services come with unlimited help and support provided at no extra cost throughout the year.That help and advice will all come courtesy of your own fully qualified and dedicated small business accountant.
Got a question?
Are you just looking for an answer to a general question? We always provide free advice to individuals and self employed persons. You can send us an email, call us or fill in the form. But you should be asking answers to general questions.
Frequently Asked Questions
Most frequent questions and answers
No we do not charge any fee for initial consultation. We will try to give you free guidance if its something you can do easily by yourself. We will only charge you if you appoint us to do some work for you.
We are giving free advice on general questions and this is one way of paying back to our local community who cannot get through to tax man. But if your question is of specific nature, we will tell you about our fee.
You can certainly ask question about accounting but you should know that we cannot teach you accounting over the phone or online. If you are not familiar with book keeping or accounting, its best to hire an accountant?
If you are only after advice, we will make a decision after hearing question. It may take further investigation and we may have to look into your personal circumstances to answer your question.
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If a person already has 35 qualifying years or is likely to do so by the time that they reach state pension age, missing a year will not adversely affect their state pension entitlement. However, if they have less than 35 years (and will be able to reach the minimum 10 years needed for a reduced state pension by the time that they reach state pension age) making voluntary contributions can be worthwhile.
While any gain on the sale of a property that has been the taxpayer’s main residence throughout the period of ownership is covered by private residence relief, the flip side is that if the main residence is sold at a loss, the loss is not an allowable loss for capital gains tax purposes.
Taking a loan can be tax efficient, particularly if paid back before the trigger date for the s. 455 charge. It may be an attractive option to get over a difficult period where a return to profitability is anticipated, allowing a dividend to be declared to clear to loan balance.