Personal Tax Planning

Whether you are a director of a UK company or a private individual we will ensure that your personal tax return is completed and submitted on time, whilst also making sure that you pay the correct amount of tax. We make the often complex process simple and easily understandable.

We have the knowledge and expertise to make sure that you claim all tax allowances and deductions, to minimise your tax liability. We will also take the burden of additional paperwork away from you for matters such as preparing P11ds or reviewing tax codings, to give you time to concentrate on your business.

In the event of a Revenue enquiry we can deal with the queries on your behalf.

We also cover all aspects of Income Tax planning to ensure you are being remunerated in the most tax efficient way. Our clients include many wealthy private clients, and so our tax team are accustomed to carefully considering the interaction of income, capital gains and inheritance taxes, as well as reviewing remuneration to other family members.

Examples of personal tax planning we can assist you with:

  • School Fees Planning

School fees are a major financial commitment for a family and can easily exceed £100,000 over a child’s education. This commitment must be met out of post-tax income, which requires pre-tax salary or profits over £180,000. This can place a heavy burden on the family business which must ultimately fund them.

Properly structured family arrangements can reduce the cost by up to £55,000. A key factor to consider is ensuring that ownership of the family business is in the correct hands so plans can be put in place, sometimes even before the children are a twinkle in their parents’ eyes.

  • Inheritance Tax Planning

We can help you to ensure the potential inheritance tax implications of your business ownership and your personal assets including your family home are reviewed and minimised wherever possible. We can advise you on setting up and the ongoing use of tax efficient trusts.

A planned strategy over a reasonable time period (the longer the better) can ensure that inheritance tax is minimised as far as possible. Without this structured plan, your estate may be required to pay inheritance tax either because you didn’t give away your surplus assets in time, or in the right way, or some of your business assets which should have qualified for reliefs have failed the relevant conditions.

At a basic level, as part of our accounts preparation each year we review your business to ensure that there is nothing that will prevent you from obtaining the available reliefs. If there are issues, then we will advise on the appropriate steps that need to be taken to resolve them as soon as possible.

At a higher level, we offer a complete review of your assets and advice on ways in which inheritance tax liabilities can be reduced. This may, as part of the solution, involve rewriting your Wills, using Trusts to pass down assets within the family, whilst still maintaining an element of control over them, or inheritance tax friendly investments.


If you think we can be of help to you or your organisation please send us an email or call us on 01743 249 992