Tax Planning Services
Avoid paying tax again on wealth you've accumulated and been taxed on already!
Tailored wealth succession planning enables a smooth transition to the next generation as well as minimising tax liabilities.
We can advise...
- Individuals whose estate planning is close to the nil rate band or many times larger
- Techniques to mitigate inheritance tax on family homes, family businesses and investment portfolios
- On both lifetime transfers and wills
However, estate planning is not solely about tax and we adopt a common sense approach, helping you to ensure your own financial needs are met and to avoid 'giving away too much too soon'.
Are you paying too much in tax?
Nobody wants to pay more tax than they absolutely need to, but unfortunately, that is something that far too many individuals and businesses end up doing every single year. Recent figures have shown that taxpayers in the UK are paying around £4.9 billion more in tax than they need to, and almost three-quarters of taxpayers stated that they haven’t taken steps to reduce their tax waste or taken advantage of any of the savings that may be available to them. This is a huge amount of money being paid out that really doesn’t need to be!
If this sounds like you, fear not, as it is not too late to start thinking about your next tax bill and take steps to reduce the amount that you owe. This is where the tax planning services that we offer at Am Plus Accountancy can help. We have helped plenty of businesses and individuals to cut down their tax bill significantly.
Why should you be thinking about tax planning?
We all want to be successful in our business, but your tax bill is naturally linked to the amount of profit you make. However, with careful tax planning in Glasgow at important points of your business strategy, a good tax planning service like the one that we offer can help you to make significant savings.
By planning ahead when it comes to your tax, you may well have the opportunity to take advantage of any saving opportunities which may not be an option further down the line. This reduces the amount you have to pay out, leaving you more money to grow your business further.
How and where tax planning can save you money
When you come to us for advice and support with your tax planning, we can look at your individual circumstances in more detail and give you personalised advice to get the most out of your money. However, some of the things that we may support you with include:
- Helping you put a tax reduction strategy into place
- Look at your current tax situation before you make any future plans for your company
- Help you with tax-efficient remuneration packages and benefit structures
- Look at how you can maximise the use of lifetime gifts and annual allowances
- Assist you with preparing and drawing up a tax-friendly will
- Ensure that you are fully making the most out of your entrepreneur’s relief and roll-over relief percentage.
- Much, much more.
The tax payment process is becoming more complex and places more responsibility on the taxpayer to make sure everything is correct. This leads to many going down the most straightforward route without ensuring they have made every possible saving. With the help of a professional UK tax planning service, we can help you to get it right, make sure it is legal and potentially save you significant amounts of money at the same time.
For more information on how Am Plus Accountancy can help you with your tax planning and any other tax related services, get in touch with us today.