With April 5th just around the corner, it’s important to check your tax position for the 2017/18 tax year. Any potential tax planning will need to be considered sooner rather than later. We've devised a checklist of the top 10 year-end tax saving strategies for business owners and high-net-worth individuals. This includes some quick wins and some more complex ideas to ensure that full advantage of the allowances and reliefs provided by the Government are taken.
At First Wealth, our approach to tax planning is simple: if we can save you tax, then this is an immediate return on your capital. With such a close link between financial planning and tax planning, it’s essential that we have a detailed understanding of both. Our tax advice can be broken down into two main areas:
- Tax planning on earned income, savings, profits, income tax and capital gains tax.
- Tax planning around accumulated wealth or inheritance tax.
Our advice incorporates all aspects of tax planning, from the basic building blocks of financial planning such as ISAs and Pensions, through to more complex structures such as Venture Capital Trusts (VCT) and Enterprise Investment Schemes (EIS), as mentioned in the infographic above.
The mitigation or reduction of inheritance tax liability is also important for many of our clients. Our advisers will help you build and deliver a financial strategy that will help pass assets to your beneficiaries, while giving you maximum control of your assets through your lifetime.
To discover more ways that First Wealth can set you free from your finances and help you to live an inspired lifestyle that you love, browse the rest of our website and feel free to get in touch with any questions – we'd love to hear from you.
This article does not constitute advice. Anyone considering any form of financial planning should seek independent financial advice. First Wealth LLP is an appointed representative of Best Practice which is authorised and regulated by the Financial Conduct Authority (FCA). You should note that the FCA does not regulate tax advice.
Past performance is not indicative of future results. The value of your investment may go down as well as up.
