With regular changes to legislation, rules, allowances and reliefs, taxation can be very complicated. Tax planning is best done with the help of a financial adviser. Here at Becketts, we have extensive experience helping clients manage their personal finances in a tax-efficient way, making sure that you don’t pay more tax than you need to.
The tax year runs from 6 April to 5 April every year
Everyone is required to pay the relevant level of income tax on any income they have earned in this period. The Government also collect other types of tax such as: National Insurance, Capital Gains Tax, Inheritance Tax, Corporation Tax
One of our financial advisers can help you plan your taxes in advance and implement reliefs and allowances to minimise the amount of tax you have to pay.
Inheritance Tax Planning - Peace of Mind for you and your family
Inheritance tax is a real concern for individuals who’ve worked hard to build their personal finances and assets, with the hope of passing them on to family members. Currently, your beneficiaries may have to pay substantial inheritance tax straight to the Government before receiving any of the value of your estate.
There are many factors (including rising property values) tat could place the value of your estate above the given inheritance tax allowances, placing pressure on your family during a difficult time.
If you are single your beneficiaries will owe 40% of any inheritance over the allowance of £325,000. If you are married, in a civil partnership or widowed, your beneficiaries will owe 40% of any inheritance over the allowance of £650,000.
A number of inheritance tax strategies can remove or reduce the burden on inheritance tax. these strategies do not mean you necessarily lose control of your assets but will be tailored to your exact needs.
Although none of us like to look ahead to the end of our lives, it is important to plan early and we are dedicated to making the process as simple and reassuring as possible. As a traditional company with a strong work ethic, we believe that after a lifetime of work you should feel proud of your estate and assured that your loved ones will benefit as you have always intended.
At Becketts, we aim to provide you with peace of mind knowing that your loved ones will be look after. We help you understand your estate planning requirements by working with you and family members to review your Inheritance tax position. We will also liaise with your solicitors to make sure that everything is in place such as Wills, Powers of Attorney and any Trustee arrangements.
Corporate Tax Planning
Our corporate services are entirely bespoke and our experience is wide ranging. In order to define the needs of your individual business, we offer a tailored on-site seminar to corporate clients. We will present our full range of options, then demonstrate and discuss the potential benefits of building a relationship with us.