Personal Tax

Whether income tax is earned through an employer or through your self employment, advice on how to mitigate taxes and complete self assessment tax returns is provided.

Tax for residential properties includes stamp duty land tax (SDLT) and capital gains tax. In order to mitigate these taxes, planning should start prior to purchase or sale.

Utilising trusts can help plan wealth distribution and growth particularly for complicated family arrangements and preparing for future unknown events. The right trust will depend on your circumstances but some commonly used trusts are bare trusts, discretionary trusts, charitable trusts, and non-UK resident trusts.

Capital gains tax is paid on the profit earned by selling an asset. If you exceed the allowance of £3000 per year you will be required to pay this tax. Tax advice is given for the disposal of shares, residential property, inherited property, and personal goods.

Inheritance tax can be costly, so tax planning is critical. Inheritance tax is due on all assets above the £325,000 threshold with an additional £175,000 for the main residence. Tax advice on lifetime gifts, the 7 year rule, and asset structuring will help your hard earned assets go to your loved ones.

Structuring your investments properly is the best way to ensure you can enjoy the growth of your wealth.