Tax planning is a fundamental part of successful financial planning. Work with an adviser to find the best tax-saving options and build a more valuable financial portfolio.

What is tax planning?

There are two main areas of tax planning - corporate and personal.

Personal tax planning is identifying tax-efficient or tax-saving opportunities to maximise financial returns. Whether you’re looking to reduce income tax, capital gains tax, inheritance tax, or any other significant tax, tax planning is essential if you want to get the most out of your money.

Corporate tax planning is a way for businesses and business owners to take control of their corporate finances by using cash management tools, strategies to help employee retention and benefits, as well as strategies to reduce corporation tax.

Important - The FCA does not regulate inheritance tax planning.

How can tax planning benefit you?

Whether you’re looking at reducing the tax you owe for yourself or your business, you’ll find a number of tax planning benefits, including;

  • Minimising tax burdens
  • Reducing tax obligations
  • Improving cash flow
  • Increasing investment performance returns

Financial success demands a clear strategy, tailored portfolios, and careful tax planning. Taxes can eat into profits, hindering success, but with a financial adviser's guidance, they can produce a financial plan to help achieve your financial goals.

Important - Investment involves risk. The value of investments can fall as well as rise. You may get back less than you originally invested. Bear in mind that tax rules can change and their impact on you will depend on your circumstances.

How can a financial adviser help you with tax planning?

Navigating tax isn’t easy. A financial adviser can help you navigate all aspects of tax planning to find solutions that work for your individual circumstances.

Tax planning strategies and products may include, but are not limited to:

  • Utilising a range of Retirement plans such as SIPP's & SSAS's
  • Ensuring Investment ISA's are maximised to ensure tax-free growth
  • Investing for Beneficiaries using pension schemes
  • Onshore and Offshore Investment Bonds
  • Alternative Investment Market (AIM) holdings
  • Venture Capital Trusts (VCT)
  • Inheritance tax products
  • Trusts

Benefits of tax planning with Ascot Lloyd

We’re independent

Being an independent financial advisory firm means we are not tied into certain partnerships or product solutions; therefore, we can search the whole market to find the most appropriate tax efficient solutions such as pensions and investments that qualify for reliefs. On the other hand, restricted advisers can only recommend products from a specific group of providers or a single company, which can limit the options available to clients.

We take time to get to know you

We value the importance of getting to know you and will take the time to fully understand your personal, family and business objectives and life goals. As we discuss these objectives in greater detail, we will review your attitude towards risk to ensure any future solutions meet your expectations.

Highly experienced advisers and support team

At Ascot Lloyd, we have in-house tax specialists who support our advisers to ensure you receive the best possible tax and financial planning advice.

Full financial planning services to suit your needs

Whether you are looking for investment advice, retirement planning, tax planning, or any other financial service, our team of experts is here to help. We understand that every individual has unique financial goals and circumstances, which is why we work closely with you to create a personalised financial plan that is tailored to your needs.

Ongoing support

Once you start your journey with Ascot Lloyd, we understand how crucial it is to have a financial plan that can adapt to your evolving needs and meet your expectations. This is to ensure that your plan remains on track and your financial solutions are still the most appropriate.

Maximise your earnings and minimise tax liabilities with Ascot Lloyd

Talk to our independent advisers to learn more about our tax-efficient financial planning advice and services.

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Frequently asked questions
about tax planning

Why is tax planning important in a financial plan?

Tax planning ensures you retain as much of your earnings, retirement and investment income as possible. This gives you more flexibility to contribute to your investments and achieve the goals outlined in your financial plan. Moreover, having full visibility of your taxes can help to focus attention on minimising your liabilities.

Are contributions to a pension plan tax deductible?

No, but any contributions made directly by yourself benefit from tax relief. This means your personal pension contribution is topped up by basic rate tax. Usually, this is automatic for basic rate taxpayers. Higher earners can get further income tax relief, this can be claimed through the HMRC’s self-assessment returns or by writing to HMRC.

How is income tax calculated?

The UK government calculates tax in bands. There are some additional allowances and preferential rates for dividend income and interest income.

The calculation of an individuals is dependant on the source of income, which dictates the order in which the personal allowance, dividend allowance, personal savings allowance, and various tax bands and rates are applied.

Different rules and calculations are in place for other taxes, such as the inheritance tax.

Important - This website is for information purposes only and is based on our understanding of current UK tax legislation and HM Revenue and Customs (“HMRC”). Levels and bases of taxation and reliefs are subject to change and their value to you will depend on your personal circumstances. Nothing in this website constitutes financial, professional or investment advice or a personal recommendation. Tax treatment depends on the individual circumstances of each client and may be subject to change in the future.