Personal tax planning

It can sometimes feel as if you’re powerless to prevent personal income tax taking an unfair slice of your income. With attention to detail and a long-term view, however, it’s possible to come up with a strategic plan that can significantly reduce your tax liability. That means more income at your disposal today and potentially for years to come.

For example, our tax specialists might identify ways in which you could structure your assets to take better advantage of both your and your partner’s annual tax-free allowance. We can also advise on tax-efficient business structures (sole trader, partnership or limited company?) and make sure you’re claiming relief on every permissible business expense.

Capital gains tax is another area where planning can pay off. If you time the disposal of assets carefully, spreading gains across years, and take advantage of available reliefs, the impact can be considerably reduced.

When it comes to retirement, decisions you make when you’re relatively young can make the difference between a comfortable retirement and being forced to compromise on your lifetime goals.

For contractors working overseas, such as those in the oil industry, we can provide tax assessment for each assignment to manage the associated tax liability.

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