Tax Planning

Tax planning is the legal and complex process of arranging your affairs to minimise tax liability.

The UK tax system is complex and subject to constant change. We offer proactive tax planning strategies for many SMEs, corporates and even high net worth individuals.

There is a wide range of reliefs and provisions that are available to legitimately reduce a tax liability without straying into the rather more challenging area known as tax avoidance.

At Makesworth, we have years of experience and accumulated knowledge to help you to execute the best tax planning for your business or personal incomes or wealth. We make sure you get the best of your income so that you can live the life you desire.

Our expert advice could result in potentially significant improvements to your business and personal wealth.

Tax considerations are relevant at every stage and may include:

• Tax efficient distribution of profits/ incomes
• Incorporation of a limited company or setting up a partnership
• Business growth
• Passing the business on to the next generation of family/management

Corporate Tax Planning

Corporation tax usually represents a substantial part of your trading costs. Moreover, the increased reporting obligations, robust investigation policies on the part of the tax authorities, and harsher penalties for non-compliance mean that an undue amount of your time and resources can be taken up collecting revenue for the government.

At Makesworth, we have a dedicated team to provide a range of services to help you minimise your corporate tax exposure and relieve you of the administrative burden of complying with tax legislation. These include:

• Determining the most tax-effective structure for your business
• Taking full advantage of tax opportunities and reliefs
• Achieving the optimum capital or revenue tax treatment
• Reducing tax on disposals and maximising relief on acquisitions
• Making the most of tax opportunities specific to your industry
• Meeting the rigorous demands of compliance including corporation tax self-assessment
• Acting on your behalf in discussions with the tax authorities

Personal Tax Planning

With the tax regime becoming increasingly complex and placing greater emphasis on individual taxpayers’ responsibilities, seeking professional advice and support is crucial for optimizing tax positions, ensuring compliance, and determining the best tool for tax planning.

Our dedicated team can provide the following services:

• Advice on minimising tax liability for all personal taxes, including:
  Income tax
  Capital Gains Tax (CGT)
  Inheritance Tax (IHT)
  Completion and filing of relevant returns
• Advice on which payments are due and when
• Advice on trusts and estates
• Every pound of income tax you save means more income at your disposal, every well-planned disposal of assets means minimal loss of capital gains, and every inheritance tax saving means more benefit for your beneficiaries.

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