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Tax Mitigation And Personal Tax

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Seeking advice early on is likely to make you savings in the tens or hundreds of thousands . Tax mitigation and personal tax is all about saving you money by structuring your affairs more efficiently. We look at several key areas of taxation, depending on your situation, to ensure you’re not being overcharged. – PowerPoint PPT presentation

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Date added: 29 January 2020
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Provided by: plusminusuk

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Title: Tax Mitigation And Personal Tax


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Tax Mitigation And Personal Tax
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Seeking advice early on is likely to make you
savings in the tens or hundreds of thousands .
Tax mitigation and personal tax is all about
saving you money by structuring your affairs more
efficiently. We look at several key areas of
taxation, depending on your situation, to ensure
youre not being overcharged. With the right
advice, its possible to make substantial
reductions on your tax bill, and sometimes to
eliminate certain taxes altogether.
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Income tax mitigation
There are many legitimate and lawful ways to save
you money on income tax. With our help, some
individuals manage to keep thousands away from
the tax man. When determining your eligibility
for tax breaks, deductions, and reliefs, we first
look at renegotiating your tax band. For high
earners, transferring funds to a spouses account
is one good way to lower your personal liability.
We also look at investments to restructure them
for tax-free returns. Other common ways to
mitigate your income tax, particularly for
property owners, include releasing equity on
buy-to-let properties.
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Inheritance tax mitigation
For effective tax planning and mitigation, its
vital to seek advice early on. Inheritance tax is
one area that people consistently leave to the
last minute, ultimately resulting in a huge chunk
of your estate up to 40 going to the
governments coffers. Not only is this is
unacceptable for most of us, its also
unnecessary. First well look in-depth at your
circumstances and estate to assess your
inheritance tax liability. Well then devise
personalised strategies for both the long- and
short-term to mitigate what youll have to
payalways aiming to get the whole of your wealth
passed along to your heirs.
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Corporation tax mitigation
When youre running a limited company, one of
your most significantand most reducible
expenses will be corporation tax. By looking at
the way you manage and extract your companys
profits, we find ways to keep corporation tax to
a minimum. Sometimes were able to eliminate it
entirely. For especially profitable years, this
could take the form of incentive schemes for your
companys directors or employees.
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Capital gains tax mitigation
Capital Gains Tax applies to any capital gains
you make, such as from shares and property
investments. Mitigating your liability in this
area is highly advisable if youre planning to
invest in property, land, or the stock
market. To help you reduce or eliminate your
liability for Capital Gains Tax, well assess
your eligibility for the various reliefs
available. Depending on your circumstances, these
could pertain to gifts, enterprises,
reinvestments, or other specific factors.
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Your tax mitigation and personal tax specialists
Plus Minus are eager to make sure you are paying
only what you are liable to pay. Time and again
we come across businesses and individuals paying
more than their fair share. Offering expert
advice and professional support, we can be
invaluable to protecting your wealth.
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For more update , visit us
https//www.plusminusaccountants.uk/consultants-fo
r-business-investments
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