Tax But How Much?
Benjamin Franklin’s famous 1789 quote that ‘nothing can be said to be certain except death and taxes’ may be true, but how much tax? That is a question that concentrates many people’s minds whether it applies to income, fuel, corporation or VAT. The list is endless but the advice available from tax specialists may well reduce your tax bill substantially and keep your money in your pocket. It is a matter of your finding a quality specialist that has sourced the best place for specific help.
Save your assets
The vast majority of people work within the PAYE system though they may still have some secondary tax issues. Where expert tax services are really valuable is for people with significant assets who face issues over their investments, need help with their tax planning in general and want to create the most tax efficient pension. These are the people who may be looking to be pointed in the right direction and if this applies to you, you may want help on a number of fronts.
As an example your first concern may be the amount of corporation tax your company is paying. There are perfectly legal ways to avoid paying any and indeed it is perfectly legal to create losses and actually claw back tax in some situations. Even those in a high PAYE position can get relief. Directors, shareholders and the self employed can all benefit by getting specialist advice rather than simply relying on their local accountant to look after their affairs.
There are even ways to reduce a bill for stamp duty which is widely regarded as a tax that hinders the recovery of the housing market when it is desperately in need. Few people have more than a passing knowledge about Trusts which can be very tax efficient.
Pensions
There is much focus on pensions where poor growth has resulted in more people contemplating working longer or having to cut back on retirement plans. Those with significant assets can do worse than arranging a consultation to look at pension provision and the most tax efficient way to proceed.
You may be unhappy about the current performance of your pension and really not know which way to turn. It is possible to transfer to better performing products and it is certainly worth talking this over if those products can show consistent results that are outperforming your own.
Research
It is worth your while doing some research to find an independent tax and pension expert. You could be wasting money and the tax man is happy to take it. Why not research the alternatives and read through the best options? You could save significant money.
Blue Silver Wealth is independent and therein lies its first advantage over many others; it means its advice is impartial with no incentive to go to a single source. If you are concerned about the amount of tax you are paying perhaps it is time to make a call?
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Category: Taxes
