When you work as hard as you do, it’s only fair that the wealth you have created benefits you.
Ensuring that you are not paying too much of that wealth back in tax is important. This is why a review of your personal tax affairs is key. Our friendly team of personal tax experts at Alexander & Co will provide you with strategic tax planning advice, so you can make the most of the current opportunities in the tax system.
We will help optimise exemptions and tax relief, tailored to your personal circumstances, whilst making sure that you remain compliant with the tax rules. This will help to ease the impact of any potential turbulent economic conditions. We can advise on personal taxes, including:
A number of our clients have trusts that have been created for a variety of reasons. Trusts are not only used for tax planning, they are also used for asset protection. Trusts can be an effective way to set aside assets for future recipients outside the inheritance tax net in the right circumstances. Alexander & Co assist by:
Working with you to see if trust planning is an effective solution for your requirements
Notifying HMRC of the trust’s creation for inheritance tax, capital gain tax and income tax purposes
Preparing the 10-year inheritance tax returns for trusts on suitable anniversaries
Preparing capital gains tax and income tax returns and supplying tax information to beneficiaries
Advising on the inheritance and capital gains tax implications on the creation of trusts and claiming any reliefs
Our highly skilled, experienced personal tax accountants will help lighten the burden of tax compliance for partnerships, allowing you to focus on your business. We will provide guidance, advice, and support in the following areas:
Employee share schemes (also called employee share plans) are incentive arrangements provided by employers to motivate and reward key employees. Such arrangements can be highly beneficial and motivating to employees and drive growth into a business. Shares are either rewarded directly by the employer or awarded via a form of shares scheme put in place by the employer.
Professional advice should always be obtained for the tax position of shares transferred to employees, as it’s a highly complex process. Our personal tax accountants are vastly experienced in employee share schemes, so do not hesitate to get in touch today.
Owning a second property (or more) to rent out is giving rise to an increasing number of tax issues. These individuals will be subject to income tax on any rental income, as well as capital gains tax on any gains following the disposal of the property and additional Stamp Duty Land Tax on the purchase of additional properties
Here are just a few points to be considered:
The Government has recently introduced a whole raft of legislation that can give rise to additional tax charges on additional properties. Landlords should urgently review their ownership structures, finance arrangements and tax positions in light of these changes
Identifying capital costs of acquisitions, improvements and disposal to minimise any capital gains on disposal
Quantifying which expenses can qualify as tax deductions for repairs or replacement items
In the midst of a divorce, tax probably isn’t high on your list of priorities. However, it’s important not to underestimate the impact of taxation on the final settlement. Seeking advice on the UK tax implications of divorce, separation, or any proposed settlement at the earliest opportunity is imperative.
By planning a divorce settlement with care, you should be able to minimise the tax cost of transfers under the divorce settlement.
We live in a very global society and people now have personal and business interests in multiple countries. Whilst it is advisable to seek local tax advice in each country, we have a number of clients that we have assisted in efficiently managing their UK tax affairs in relation to cross-border interests.
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