In today’s tax landscape, individuals are increasingly responsible for optimizing their tax positions and meeting compliance requirements. To ensure you make the most of available opportunities and receive professional guidance, Savage Accountants offers year-round advice on all aspects of personal taxation.
We understand that tax planning extends beyond individual considerations and encompasses the entire family unit. With our comprehensive knowledge and expertise, we can assist you in effective tax planning for you and your family.
Inheritance tax planning
Planning for the future and addressing inheritance matters can be challenging. However, by making provisions in advance, you can take advantage of numerous tax opportunities. Our discreet inheritance tax planning service includes:
- Collaborating with your solicitor to develop or review your will
- Maximizing exemptions and utilizing lower tax rates on lifetime transfers
- Optimizing transfers of assets between family members
- Facilitating transfers of agricultural or business property
- Assisting with asset transfers into trust
- Coordinating with financial advisors to ensure adequate life assurance coverage for potential inheritance tax liabilities
Capital Gains Tax planning
If you own a second home, rental property, or have a small investment portfolio, understanding the capital gains tax implications upon disposal is crucial. Capital gains tax is applicable to gains realized from the sale of assets, including company shares and land ownership.
Calculating the capital gains tax liability for property disposals can be complex, especially if you have resided in the property at any point. If you are contemplating the sale of a rental property or second home, we can help you determine the potential tax liability. Armed with this information, you can make informed decisions based on economic considerations.
Whether you require assistance with inheritance tax planning or capital gains tax calculations, our team is ready to provide expert guidance and support. Contact us to explore your options and make well-informed financial decisions.