PERSONAL TAX PLANNING

All of our Advice Team are qualified to give Tax Planning Advice to our clients in the key areas of:

  • Income Tax
  • Capital Gains Tax

This is supported by our In House Chartered Tax Adviser Tony Glover who is a specialist in advice on a wide range of tax planning issues and who works closely with our Advice Team and our clients to find solutions to their Tax Issues.

We will also work closely with your accountant whether that is MTS Chartered Accountants or an external firm to ensure that there is minimum hassle for you when dealing with your tax affairs.

Income Tax Planning

Our team will assess all of your personal income and the joint income of couples, and inform you of what your ongoing tax liability will be now and in the future as your circumstances change.

We will then, as part of your overall Strategic Wealth Plan, recommend strategies that are available to individuals and married couples to help mitigate any future tax liabilities and ensure that no undue tax is paid.

It is important for us to factor in your income tax position when managing your investments as we will need to plan what income will be payable from your investments and if necessary ensure to structure your investments so that as little tax as possible is payable.

Capital Gains Tax Planning

When you decide to sell an asset that you own, the gains or profit on the sale could be chargeable to Capital Gains Tax (CGT). The profit on the sale of the asset is the difference between the price you bought the asset at and the sale value you received.

Some of the assets Capital Gains Tax would be charged on include property, shares and personal possessions. There is a relief of £11,000 on capital gains tax for 2014/15 tax year.

Before selling an asset we would recommend that our clients discuss this with us and we can provide them with a tax calculation which will clarify the gain that is on their property and any tax that will be payable. Often there may be solutions to selling the asset that will mitigate tax from being paid.