Tax Planning Return to all services

There are a number of ways to reduce your tax bill that are completely legal. These strategies use tax allowances and reliefs to keep more of your money in your pocket. Our service can review your circumstances and assess where savings can be made both now and in the future.

There may be ways to reduce your income tax bill. Actions such as making additional pension contributions or gifts to charity could make a big difference.

With careful planning Capital Gains Tax (CGT) can be minimised, particularly over time. For example, if you have a unit trust holding, the value equivalent to the ISA allowance could be switched into an ISA wrapper each tax year.  Once in the ISA wrapper the investment would become CGT exempt.  The timing of investment encashment can also be important. If you have already utilised your annual CGT allowance, depending on the circumstances, it might be worth waiting until the next tax year before another encashment is made.

Inheritance tax (IHT) planning is another area where planning ahead can be really beneficial. Whilst IHT planning can be complex it can include straight forward actions such as using the annual small gifts allowance.

If you would like advice on creating a strategy for improving your tax efficiency or more information about our service please get in touch.

You can do so using our contact form, emailing enquiries@dupreefs.com​ or calling us on 01453 852 900.

INFORMATION IS BASED ON OUR CURRENT UNDERSTANDING OF TAXATION LEGISLATION AND REGULATIONS. ANY LEVELS AND BASIS OF RELIEFS FROM TAXATION ARE SUBJECT TO CHANGE.
The Financial Conduct Authority does not regulate tax planning, will writing and inheritance tax planning.
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