As tax advisers, our objective is to work closely with you to ensure you pay the minimum tax required by law. We will help you to understand the tax implications of your actions, in order that you can plan ahead and conduct your affairs in a tax efficient way.
We are specialists in income tax, capital gains tax and inheritance tax.
We have the expertise and software to take the headache out of the form filling and compliance aspect of Self Assessment. We can provide you with practical advice on personal tax positions and the planning opportunities available to you. We can complete tax returns, calculate any tax liability and advise you on exactly when to make payments and how much to pay.
Personal tax planning
Today, more and more emphasis is being put on taxpayers’ individual responsibilities and everyone who is subject to taxation needs professional advice and support if they are to optimise their tax position and ensure they meet the compliance requirements. Our specialist tax team can provide you with year-round advice on all aspects of personal taxation.
Few of us like to think about dying, however the relevant legislation requires us to plan well in advance. This means making the necessary provisions now. There are many tax opportunities available and the earlier arrangements are made, the greater the chance of taking full advantage of our complicated tax system.
It is important when planning to transfer an estate that adequate provision is made and getting the right balance requires considerable skill and foresight – along with a detailed knowledge of the current tax regime. In association with our expert associates at Lowes Financial and The Will Writing Company we provide a discreet comprehensive estate planning service that includes:
- Help with planning and reviewing a will
- Making full use of exemptions and lower tax rates on lifetime transfers
- Optimising lifetime transfers between family members
- Transferring agricultural or business property
- Transferring assets into trust
- Arranging adequate life assurance to cover potential inheritance tax liabilities
Lowes Financial and The Will Writing Company also have expertise in dealing with trusts; a relatively easy and very tax efficient way to set aside assets for future beneficiaries outside the inheritance tax net. We can advise on the most suitable type of trust to fulfil your wishes, assist in setting up the trust and provide the full range of accounting services required for trust management.
Being the subject of a tax investigation by the HMRC can be a stressful and worrying experience. With the onset of personal and corporate self-assessment, HMRC staff can now review cases on a ‘sample basis’; consequently, tax investigations have become more frequent. We have a wealth of experience in dealing with HMRC investigations, whether they are enquiries into an individual’s Tax Return under the Self Assessment regime, more detailed enquiries or employer-related investigations into PAYE and P11d compliance. If you are about to be the subject of an investigation, we can provide expert help and support.
The tax planning team at BizNav can offer you innovative ideas to reduce your exposure to tax.
Aside from the areas highlighted below, there are many other opportunities for the majority of taxpayers to lessen their tax burden.
We have saved our clients significant amounts in tax using robust and genuine tax planning solutions. We are not in the market to peddle risky unproven tax schemes.
Our ethos is to discuss your requirements with you and together formulate a sound tax planning strategy to meet your wishes.
We will be delighted to offer you a free, no obligation meeting with a member of our planning team.
Income Tax Planning
- Recover income tax you have paid in the previous three tax years
- Avoid paying higher rate income tax in this tax year
- Reduce your overall income tax bill
Capital Gains Tax Planning
- Save CGT on the sale of a second property
- Structure your affairs to ensure you only pay 10% CGT on the sale of certain assets
- Defer CGT bill using the various CGT reliefs and exemptions available
Inheritance Tax Planning
- Use lifetime planning to reduce exposure to IHT
- Use effective wills, trusts and other shelters to maximise your family’s inheritance
Other Savings Opportunities
- Reduce the stamp duty payable on the purchase of properties over £1m
- Save national insurance by restructuring remuneration packages
- Fund your finance requirements via tax rebates
- Protect your personal assets where long-term care costs are an issue
The following life events should all be accompanied by a review of your tax position:-
- getting married / entering a civil partnership
- having a baby
- separation /divorce
- career progression
- setting up a business/ selling a business
- business changes
- getting older / retirement