Tax Strategies 2016/17

Posted on June 22, 2016

Planning for your business

A sound business tax strategy will include such things as:

• making the most of the available incentives, allowances and reliefs
• choosing the most appropriate structure for your business
• claiming tax deductible expenses
• deciding on the best year end date
• minimising your liability to capital gains tax (CGT)
• optimising the roles of family members
• a tax-efficient business exit strategy.

Planning for your personal finances

A good personal tax strategy will focus on helping to ensure that you, your family and your dependents are financially secure in the long term. It will typically include such elements as:

• a tax-efficient remuneration package
• tax-efficient ways to extract profit from your business
• tax-efficient saving and investment strategies
• retirement planning strategies
• estate and inheritance tax (IHT) planning
• tax-efficient gifting strategies.