The aim of of tax planning (sometimes called tax avoidance) is to arrange your financial affairs so you minimise your overall tax liability. Whether you are a sole trader, limited company or a high net worth individual you can benefit from effective tax planning.
Tax planning utilises the existing legal framework to your advantage which can reduce your overall tax liability or eliminate it altogether. Effective tax planning starts with identifying sources of income and the reliefs and allowances that may be available for any given transaction.
Effective tax planning does not just rely on suitable legal structures, such as employee trusts or inheritance trusts, but can revolve around the nature and timing of transactions – making effective use of tax rates and reliefs in different tax years.
If you would like to make an appointment to speak to one of our tax advisers, then please visit our contact page
- Cardiff: Villa House, 7 Herbert Terrace, Penarth, CF64 2AH
- Bristol: 432 Gloucester Road, Bristol, BS7 8TX
Cardiff: 02920 713 800
Bristol: 0117 924 7767
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