Effective Tax Planning can legitimately reduce the amount of tax you have to pay, thereby increasing your disposable income and/or the return on your savings and investments. Both Janet and Richard have specialist qualifications in tax planning to help you in this area.
Income tax is levied on income from salaried earnings, profits from self-employment, bank interest, property rents and share dividends to name but a few.
We can advise you on tax efficient strategies that can reduce or mitigate your liability in these areas.
Capital gains tax is payable on the profit arising from the disposal of assets such as investment property, stocks and shares and works of art where the gain exceeds the annual allowance. The excess profit is assessed at a flat rate of 10% or 20%, depending on your tax band, except for second homes- where rates remain 18% and 28%. At Opus we can help you make use of the various reliefs available to reduce the tax burden. This can be a complex area and advice is essential.
Inheritance tax may be payable if your estate is valued in excess of the Nil Rate Band (£325,000 2018/19) at the time of your death. However, the Residential Nil Rate Band allowance may be available in certain circumstances. This tax is charged at 40%, so with house prices rising, more and more people are being caught by this tax charge. It is important to remember that there can also be taxation consequences if you make certain gifts during your lifetime. At Opus we can guide you through this, and indeed other minefields, to ensure that you don’t fall foul of the rules.
We can advise you how careful use of will planning and Inland Revenue approved investment strategies can mitigate this tax.
NOTE: The Financial Conduct Authority does not regulate tax or estate planning.
Opus Wealth Management Ltd can provide you with comprehensive investment advice, designed to make the most of your money. We spend time listening to you, to get enough personal and financial data to enable us to make the correct recommendations...
The individual and group pensions market is an ever-changing world, especially with the introduction of the pensions freedom legislation, and it can be difficult to keep track of what options are available with regards to your retirement planning...
At Opus many of our clients are either business owners or retired business owners. Over the years we have learned a lot about how business owners tick. Together with our many years of experience, we have gained specialist qualifications...
Effective Tax Planning can legitimately reduce the amount of tax you have to pay, thereby increasing your disposable income and/or the return on your savings and investments. Both Janet and Richard have specialist qualifications in tax planning...
Opus Wealth Management
286 Church Street,
Blackpool, FY1 3QA
Tel: 01253 595959
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