At Alexander Sloan we aim to optimise your tax position and save you money wherever possible through structured tax planning. We monitor the ever changing legislation, helping you to minimise your tax obligations.
Every pound of tax you save means more income at your disposal, every well planned disposal of assets means minimal loss of capital gains, and every inheritance tax saving means more benefit to your beneficiaries.
It may be that there is a better way to integrate your personal and corporate tax affairs, or that there are additional tax saving opportunities which we can use to your advantage. Some of the areas where we advise and assist our individual and business clients are outlined below.
Capital Allowances can be claimed by businesses on certain investments and purchases, resulting in a proportion of these costs being deducted from the taxable profits, thereby reducing the tax bill. Capital allowances are available on buildings, plant and machinery, and research and development.
Capital Gains Tax is applied on the gain or profit made when you sell, give away or otherwise dispose of assets owned by you, such as property or shares. Your liability may be reduced by way of a tax-free allowance and additional reliefs, and in certain cases there will be no tax due.
Corporate Restructuring & Succession planning will mitigate any adverse tax consequences arising through mergers, demergers, the cessation of a business and provision for the succession of your business through to the next generation.
Inheritance Tax is liable on an estate if its value exceeds the threshold. An estate may include assets held in trust and gifts made within seven years of death, excluding gifts out of income. Inheritance Tax is payable at 40% on the amount over this threshold.
Non-Domiciliary Tax issues concern individuals living in the UK who are either 'domiciled abroad' or 'not ordinarily resident' in the UK. These individuals have two choices when it comes to paying tax on foreign income and gains, and it is important to determine the most appropriate course of action according to individual circumstances.
Personal Wealth Planning and Retirement Strategies. We can help you draw up a comprehensive personal financial plan to manage your finances more effectively. We work with Alexander Sloan Financial Planning Ltd in order to achieve your goals by the most tax efficient means.
Research & Development Relief is a Corporation Tax relief which may reduce your business or organisation's tax bill. Alternatively, if you are small or medium-sized, you may be eligible to receive a tax credit instead.
Trusts manage assets - such as land, money, shares or even antiques - for the benefit of one or more 'beneficiaries'. There are many different types of Trust which can be utilised depending upon your intentions so it is important to consult a specialist.
VAT issues can be complex for individuals and business and require to be considered from all angles by tax specialists.
This list is not exhaustive and we would encourage you to contact us for a tax planning review. By working with us to devise an overall tax plan we can save you money.