Being subjected to the ever-changing world of tax requires having a proactive, up-to-date financial adviser by your side. When structuring your estate in a tax-efficient manner, you want to be assured that the advice you receive is delivered after all avenues and options have been considered, that the interaction of inheritance tax, capital gains tax and income tax has been taken into account and that the advice is suitable for you and your family.
We consider that there are three main elements:
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- You want to know the information provided to HMRC is correct
- You want to know when and how much tax to pay
- You want to know that ways of reducing your tax bill have been considered
The areas we assist with most include:
- Tax returns for individuals, dealing with both income tax and capital gains tax
- Tax returns for Trusts, both ongoing, at creation and on wind up
- Tax returns during the administration of a deceased person's estate
- Tax returns required for stamp duty land tax on the purchase of property
Our clear, in-depth knowledge of tax law, coupled with an understanding of your circumstances and wishes, can protect your family and any other dependants from the impact of Income Tax, Capital Gains Tax and Inheritance Tax. If you have accrued wealth and assets, or if you hope to do so, it is in your best interests to embark on a clearly outlined tax planning strategy at the earliest opportunity.
How we can help you
We can:
• Formulate a tax-planning strategy which meets your objectives
• Complete your annual tax return and submit it to HMRC
• Find ways to minimise your Income Tax liabilities
• Structure your assets to minimise the impact of Capital Gains Tax and Inheritance Tax
• Set up appropriate Wills, Trusts, Companies and Partnerships
• Access and pass on pension plans in a tax efficient way
International estate planning
In today's global society, many individuals have an international aspect to their affairs on account of where they or their families live and/or where their assets are based. Our experienced team understands the tax and succession issues which affect individuals who have chosen to live or work in a different country or who have assets in different jurisdictions.
As well as advising on domicile and tax (to include UK income, capital gains and inheritance tax), we will prepare legal documents such as Scottish Wills, Trusts and Powers of Attorney and help you plan ahead.
Our advice will give you peace of mind that you and your family are protected.
UK expat tax advice
Whether you are leaving the UK temporarily or permanently, we can advise you of any ongoing UK tax requirements you may face, how you will be treated for tax in the year of departure and finalise your tax affairs for that year or any actions that should be taken either before or after departure in order to remain as tax efficient as possible.
If you are coming to the UK, we can advise you on any actions that should be taken prior to arrival or notifying HMRC that you may need a Tax Return or advising how you will be treated for tax in the year of arrival.
How can a financial adviser help?
Our solicitors and tax advisers will work closely with you to establish what you are trying to achieve when considering tax planning. We will clearly explain the options available to you and what the implications of a certain course of planning will be. We will ensure you are completely comfortable with any planning you wish to put in place and will encourage ongoing discussions and reviews to keep the advice and planning relevant as circumstances change.
For tax compliance, our tax advisers will clearly explain the self-assessment process and the requirements for the filing of a tax return. We will prepare your Return, submit it to HMRC, advise you of payment dates and amounts, and deal with any issues raised by HMRC. We will keep in regular contact with you, ensuring you are aware of what is happening at each stage of the process.
