Expert personal tax planning solicitors for individual tax efficiency, investment planning and HMRC compliance. Specialist personal tax advice.
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Personal tax planning has become increasingly important as tax rates rise and anti-avoidance rules tighten. Our specialist personal tax solicitors help individuals and families optimise their tax efficiency while ensuring full compliance with complex UK tax obligations.
Income Tax Efficiency:
Capital Gains Tax Planning:
Investment Planning:
For wealthy individuals, additional considerations include:
Our solicitors ensure compliance with:
Effective personal tax planning can save thousands annually while ensuring your wealth grows efficiently within the tax system.
This information is for general guidance only and does not constitute legal advice. For specific legal advice tailored to your personal tax situation, please consult with a qualified personal tax solicitor.
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Find Your SolicitorCommon questions about personal tax planning and how our solicitors can help
Personal tax planning involves legally structuring your affairs to minimise income tax, capital gains tax, and inheritance tax while ensuring compliance. It's important because effective planning can save thousands annually, help you keep more of your hard-earned money, fund your lifestyle and goals more efficiently, and ensure your wealth transfers to your family as intended.
Legal income tax reduction strategies include: maximising pension contributions, using salary sacrifice schemes, optimising dividend vs salary for business owners, claiming all allowable expenses, utilising marriage allowance, charitable giving for tax relief, and using tax-efficient investments like ISAs. Professional advice ensures you maximise available opportunities while maintaining compliance.
Tax-efficient investments include: ISAs (up to £20,000 annually), pensions (with tax relief), Enterprise Investment Scheme (EIS), Seed Enterprise Investment Scheme (SEIS), Venture Capital Trusts (VCTs), and offshore investments for non-doms. Each has different risk profiles and tax benefits. Professional advice helps select appropriate investments for your circumstances and objectives.
CGT minimisation strategies include: utilising annual exemptions (£6,000 for 2023/24), timing disposals across tax years, realising losses to offset gains, using spouse transfers, claiming available reliefs like principal private residence relief, and considering hold-over reliefs. Professional planning optimises timing and structuring of disposals to minimise tax liability.
Non-UK domicile status can provide significant tax benefits for high earners, allowing remittance basis taxation of foreign income and gains. However, from year 7 of UK residence, annual charges apply, and there are complex compliance requirements. Professional advice helps determine if non-dom status is beneficial and how to structure affairs to maximise tax efficiency.
Pension planning helps personal tax efficiency through: income tax relief on contributions (up to £40,000 annually), tax-free growth within pensions, 25% tax-free lump sum on retirement, flexible access from age 55 (rising to 57), and inheritance tax benefits for beneficiaries. Professional advice optimises pension strategies for your circumstances and retirement objectives.
Review personal tax planning strategies: annually before each tax year end (5 April), when your circumstances change significantly (new job, marriage, divorce, inheritance), when tax laws change, before major financial decisions or investments, and when approaching retirement. Regular reviews with professional advisors ensure your strategies remain effective and compliant with current legislation.
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