The legislation that governs passing on your estate to your chosen beneficiaries requires you to plan well in advance. Since none of us knows when we shall die, this means making the necessary provisions now.
The earlier you make the arrangements, the greater your chance of taking full advantage of the tax opportunities available and thereby maximising the amount that goes to your beneficiaries. Nothing is more demoralising than the thought that a substantial slice of the wealth you have worked hard to accumulate will end up in the Government's coffers!
It is equally important when planning to transfer your estate that you make adequate provision for yourself and your spouse in your later years. Striking this balance calls for considerable skill and foresight - and a detailed knowledge of the tax regime.
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
We strongly advise you to begin your estate planning right away by contacting us for a preliminary review.
INCOME TAX RETURN
Self assessment can be a time consuming and often confusing business for busy individuals.and judging by the hundreds of thousands of taxpayers who are penalised by the HM Revenue & Customs each year it can also be very costly if:
Deadlines are missed
Incorrect returns are delivered
Appropriate records are not retained or presented
We aim to spare you all these headaches and free up your valuable time by offering a comprehensive Individual Self Assessment service, including:
Liaising with your bank, building society, stockbrokers etc to gather the relevant data for your annual returns
Calculating your tax liability
Completing and filing your tax return on your behalf
Advising you when various payments are due and how much to pay
Advising on appropriate record retention
Introducing you to any relevant tax saving ideas
Representing you in the event of your being selected for investigation by the HM Revenue & Customs
Contact Us today to discuss how we can spare you the headache of Self assessment.
PERSONAL TAX PLANNING
We offer a specialist personal tax planning service tailored to your individual needs that includes:
Advice on minimising tax liability for all personal taxes, including:
Capital gains tax (CGT)
Inheritance tax (IHT)
Completion and filing of relevant returns
Advice on what payments are due and when
Advice on trusts and estates
We can offer you personal tax planning advice from one of our Tax Partners.
He or she will help you optimise your tax position and ensure you meet all the compliance requirements.
Clients who benefit from this service attest to the value of an independent adviser who can look at their situation within the larger picture.
Your personal Tax Adviser will also be available to advise on issues such as:
How best to handle benefits such as company cars and accommodation
Whether directors should be paid by salary or dividend
How to minimise CGT liability on disposal of assets
How to optimise your tax position when living or working abroad
With the complex nature of tax and finances today, we also encourage our clients to develop a comprehensive personal finance plan that, in addition to general tax planning, covers:
Provision for education costs
Savings & investments
Decisions made in any of these areas are likely to affect one or more of the others, which is why we recommend working within an overall plan.
We can help you draw up a comprehensive personal financial plan.
Contact us today to discuss how we can help you manage your personal finances more effectively.