Whether it is ensuring you are claiming all your allowances or minimising your exposure to tax, this is an area which needs to be reviewed annually.
How many people utilise their capital gains tax allowance to give them a tax-free income? How many people use all the tax breaks available?
Tax planning has to consider the ultimate objective to ensure the right balance is achieved between income tax savings, capital gains tax and inheritance tax.
The use of limited companies and corporation tax rates to shelter from higher rate tax and national insurance is becoming increasingly important.
The use of trusts and their effect on taxation is another area requiring specialist advice. We can arrange advice on all these areas.
PFM Associates Limited is authorised and regulated by the Financial Services Authority