Tax Planning

Professional advice for personal and business tax planning support to protect wealth, particularly while running a business is important particularly in the context of tax.

Without proper business tax planning and due care higher tax rates can erode a good amount of business cash flow which otherwise could be used and retained in the business.

Safeguarding the well-being of the family or loved ones after death and ensuring their due share in the deceased estate and wealth as well as income protection is an absolute necessity and requires high-quality inheritance tax planning.

Services of a good tax planning consultant either for tax planning advice, personal tax planning consultations or an inheritance tax specialist who can give proper advice to minimise the current and future tax liability in different tax-related areas make good and proper business sense.



Planning tax ahead
A relaxing experience

Income Tax
Income tax is the tax liability levied on the income above a specific personal Allowance threshold. The income that comes under the income tax scope is employment income, profits made if you are self-employed, certain government grants and support payments, personal pensions and State pension, income from a trust, extra benefits from a job, etc. There are also numerous allowances, reliefs and tax-exempted income that must be considered.

Corporate Tax
Corporation tax is levied on limited companies, clubs, cooperative associations like community groups, and sports clubs. The current corporation tax rate is 19% which is applied to the taxable profit. Taxable profit is computed after deducting all the tax-allowable expenses, but some expenses do not tax allowable, so they need to be added back to the profit figure.

In short corporate tax are a mixture of earnings, expenses (out of which some are tax allowable, some are not), several claims and certain allowances. Such a wide variety of items requires that there should be a professional to handle the complexity of the matter.

Capital Gains Tax
Capital gains tax applies to the disposal of capital assets that have been appreciated. CGT does not apply to unsold assets, stocks or any other investment; it is only payable when sold, and the profit is realised. Before the sale of assets, no CGT applies no matter how much they have increased in value or how long they have been held. CGT does contain a lot of complexities, with many inclusions and exemptions.

Inheritance Tax
The inherited estate does not come without its tax implications. The distribution of estates among the heirs and applying inheritance tax rules is seriously complicated and requires specialist knowledge and expertise. Inheritance tax, in general, cannot be calculated using a default format because of the different types of assets involved and complex family structures.

Computing Inheritance tax bill and claiming necessary allowances and reliefs is an art, not a science, such as making charity donations, leaving the estate to the spouse, putting assets into a trust, giving gifts, paying into pension funds so on.

R&D Tax Credits
An R&D tax credit is an initiative by the UK government to encourage investments in the research and development department. It can benefit businesses in the following ways:

  1. Increased productivity and efficiency of the business processes and bring innovations to its products
  2. Incremental tax relief for investing in R&D

Improved quality services and products also enhance customers’ welfare. We can help you determine if your business can qualify for R&D tax credits and effectively reduce the taxable profit.

Tax Return
Working out the tax liability and filing the return to the HMRC can be difficult and time-consuming. Every source of income needs to be incorporated, and all allowances and reliefs should be considered. Seeking professional assistance to file a tax return, though not required by law, provides you with a sense of satisfaction with minimal errors and reduces the chances of HMRC investigations being started. Care accountancy provides top-notch service in this regard in almost every type of tax, and our expert team members try hard to reduce your tax liability by claiming all available reliefs and allowances as possible.


Sustainable solutions
To your problems

We believe in a simple, memorable, and consistent customer journey; therefore, the key determinant of our success lies in client satisfaction and experience. This memorable experience comes through the use of our website, networking, and social media channels. Thus our clients remain engaged with us on a long-term basis.


Expectations and delivery

We explain our clients' work process, timescales, and responsibilities to eliminate any ambiguity. We promise to deliver and align our processes to these commitments.


Care and highest level of service

Our entire team is extremely passionate about the requirement of our customers and their well-being. We are extremely thankful to our team for the level of care and service they provide to our clients.


Communication is our strength

The strength of our client relationships vests in regular communication with them, whether face to face or virtual. We ensure that our clients trust us and understand us.


You are just not a number

We focus on client relationships who are just not a number for us. Our product range is wide to suit their requirements. More importantly, we are always available to them whenever they need us.

Ignite Thoughtful Conversations

Get in Touch

Contact us by filling out the form or sending an email anytime.
We’re here to assist and eager to hear from you.