Personal tax planning

When people hear the words “personal tax”, they tend to think about the deductions suffered under PAYE or the tax bill based on their business profits.

However there is so much more to consider, even though they might not be such regular occurrences. For example, given the house price boom many individuals are still caught in the inheritance Tax net even though prices have fallen. There have been changes in the way the Nil rate Inheritance Tax band can be used by married couples and civil partners and there have been increases in the £nil rate band itself.  Nevertheless, we believe the Government will continue to increase the amount of Inheritance Tax it collects and the steps to collect it. With correct planning, well in advance, the effects of this can be minimised or negated altogether. However, as everybody's circumstances are different you need a bespoke approach to deal with the issues that are important and particular to you and that is where we come in.

As a leading firm of Chartered Accountants in Essex we have specialists in our tax team who can advise on any number of issues that are not every day events. With the tax regime becoming more complex and more emphasis being put on taxpayers' individual responsibilities, you need such professional advice and support to optimise your tax position and ensure you meet all compliance requirements.You also need a ‘safe pair of hands’ to explain the consequences and implications of your personal tax position and what you can do to plan your tax affairs for your benefit.

Our expertise covers areas such as:

• Income Tax
• National Insurance
• Capital Gains Tax
• Inheritance Tax
• Trusts and Estates
• Non-domiciliary Tax issues

Potentially many thousands of pounds can be saved with even the simplest tax advice; all you need to do is ask us to review your affairs.

Remember one pound less tax paid is one more pound for you to do with as you wish. For more information contact Chris Harman on 01376 326266 or your local Lambert Chapman contact partner for more information. Alternatively if you would like them to contact you please use the link set out below: