Are you paying too much tax?
Reducing the amount of tax you pay within the bounds of legality during lifetime and on death, is the question that I address as a specialist in tax planning.
The different types of tax
There are many different kinds of tax that we pay.
These are some of them listed below:
– Inheritance tax
– Capital gains tax
– Income tax
– National Insurance
– Corporation tax
– Stamp duty
– Council tax
– Fuel Tax
– Alcohol tax
– Cigarette tax
– Import tax
– Export tax
Working to pay the man
“Someone I respect professionally once told me that for every £1 we earn, we end up with just 1p in our pockets after all taxes, living costs and duties throughout the chain; From, earning the money gross of tax, to you sitting down in your living room with your glass of French wine and your dinner.
Whether, this is true I am unsure, certainly including ‘living costs’ is a bit of a liberty, but, the amount of tax we pay is increasing and according to the Adam Smith Institute, when looking at all of the tax we pay, direct and indirect taxes, have calculated that:
- “In the calendar year 2017, every penny the average person earned from working, up to and including June 11th, went to the taxman—from June 12th onwards they are paying themselves.”
Sensible planning can be used effectively to reduce your tax bill and increase your take home £.
Want further information?
Perhaps the most important advice I give to my clients is to plan carefully and do not leave things to chance. My job is to help you grow and protect your assets by providing the knowhow you need to make informed decisions about your future. I then help you implement the strategy into a reality. I work with you over the long term, helping you to build, brick by brick, a successful and robust financial situation.
Get in touch to discuss your personal and business tax requirements.