Tax planning is the legal process of arranging your affairs to minimise a tax liability. There is a wide range of reliefs and provisions that are available to legitimately reduce a tax liability for example choosing a year-end date early in the tax year to maximise the period from earning profit to paying tax.
Here at CWI Accountants, we help you to execute the best tax planning for your business or personal incomes or wealth. When you come to us for tax planning advice, we will take a look at your financial position and assets with a view to making sure you pay the right amount of tax, and in many cases that could mean a reduction.
A proactive approach to tax is always advisable as you can’t make retrospective changes.
Key consideration include:
- Advise you of the most tax effective structure for your business
- Advise tax-efficient methods for extracting funds from owner-managed businesses
- Make the most of the tax opportunities available to the industry that you are in
- Take advantage of tax opportunities and reliefs
- Choose the right tax treatment for the capital or revenue items of your business
- Reduce tax on disposals and maximising relief on acquisitions
- Plan your exit from businesses
- Reorganise your business
- Efficiently comply with the tax obligations up to tax self assessment
- Act on your behalf in discussions with the tax authorities