February 7, 2019
Our business and personal UK tax planning advisers will work with your accountant to provide strategies to maximise tax reliefs and allowances. This will help minimise the amount of tax you – or your business – has to pay. We most frequently provide advice on:
• International tax planning
• Business tax planning
• Dividends tax planning
• Income tax planning
• Capital Gains Tax planning
• Inheritance tax (IHT) planning.
If you think you need advice, or are just curious to find out if you are missing an opportunity to pay less tax, please contact us for a free no-obligation consultation.
Tax planning is not regulated by the Financial Conduct Authority.
The below taxation information is based on our current understanding of taxation legislation and regulations. Any levels and bases of, and reliefs from, taxation are subject to change.
The Financial Conduct Authority(FCA) does not regulate taxation advice.
The value of investments and the income they produce can fall as well as rise. You may get back less than you invested.
For 2018/19, individuals are entitled to an annual CGT exemption of £11,700 and trustees up to £5,850. This represents an increase on 2017/18 when the exemptions were £11,300 and £5,650 respectively.
If you think that your investments have made substantial unrealised gains and you have not yet made use of your CGT exemption, you should consider taking financial advice as you may be able to utilise your CGT exemption, or similar. You could for example, consider reinvestment in an ISA (subject to the ISA limits), reinvestment by a spouse/civil partner or reinvestment into a similar holding. Please contact us on 01908 226400 for more information.
Consideration should be given to transferring assets between spouses/civil partners before encashment to enable each to use their annual exempt amount – this requires a genuine and unconditional gift from one spouse to another.
It is important to consider whether any investments have made a loss and whether excess gains could be offset by any losses. Losses can be carried forward indefinitely, so it is important to include gains, losses and the annual exemption in any calculation to determine how to maximise relief.