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Income Tax
We all know about Income Tax because we all pay it one way or another.
We can show you how to make the most of your personal allowances. Contact
Us for
more details.
If your total income is in excess of £40,000 you’re likely
to be a high rate taxpayer and you should seriously consider taking
advice to reduce the tax burden. We are confident that we WILL be able
to save you money if you talk to us.
Self-employed and Directors
The self-employed or directors of their own limited companies may be able to make use of their spouse’s tax allowances by paying them a salary or a dividend, though the Inland Revenue are increasingly scrutinising such arrangements, so take care and seek advice.
Investment income, such as Building Society interest is taxable, so make sure
as much of your capital as possible is invested in the name of the lower tax
paying spouse.
ISAs do not give rise to Income Tax, and Insurance Bonds defer any tax liability for a high-rate taxpayer.
The use of Insurance Bonds is particularly useful for Trustee Investments, as Trusts suffer high rate tax on all income. In addition, investments into Pensions, Venture Capital Trusts, Enterprise Investment Schemes and some Film and Technology Partnerships attract tax-relief.
Remember, our initial discussions are FREE OF
CHARGE so please talk to us! Contact
us.
savesometax.
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