Personal tax Planning
We provide personal tax planning to a variety of clients. Whether you are a sole trader, company director, investor or high income earner our team are able to ensure that your Self-Assessment Tax Return (SATR) is completed by the necessary deadline, having claimed the reliefs available to you.
The starting point for personal tax planning and wealth management is gaining a good knowledge of our client. Rawlinson Pryde & Partners will take the time to make sure that we know our clients’ individual circumstances which will determine which strategies are correct for them. Understanding the family structures of our clients and their objectives and desires enables us to tailor our personal tax advice to each client’s individual circumstances.
With the large fines HM Revenue & Customs (HMRC) can issue for the late submission of SATR’s it is important to file these in time.
We can provide advice with how to minimise your tax bill, which may include bringing forward or delaying income tax to save at a later stage. The prime examples, of this was the dividend tax changes, which added 7.5% on to the tax bands or when the additional income tax bands were adjusted between 45% and 50%.
Another potential tax saving is if you have an employment with either another or self-employment you may be able to cap the maximum amount of National Insurance contributions made.