Income Tax Planning

Income tax planning is something that many people wish to participate in, but are unsure of how to achieve.

In order to mitigate income tax, many people will rely upon maximising expense deductions. However, this method can be very inefficient, varying dramatically on an annual basis and between industries. Even with an accountants help, substantial income tax payments are often required.

For owner directors’, Income Tax Planning can be more complex, for more information, please refer to our Corporation Tax Planning section, or, contact us.

For contractors, self employed individuals and partnerships, Efficient Remuneration Planning can provide a structured Income Tax Planning mechanism, without the reliance upon expenses to reduce income tax liabilities.

Benefits of Efficient Remuneration Planning:

• You will receive 82% of your income back with this planning solution. Effectively, you will pay 18%.
• All accounting and tax returns are completed for you.
• You will only be required to complete your NI forms, standard with any company and due once a year at a cost of £130 and also the registration form.
• The trustees will charge £300 for their administration service which we believe will be more competitive than an accountant.
• There are no penalties or restrictions for leaving the planning solution, the same is true if you wish to return.
• With this solution you do not claim expenses; this frees valuable time and removes the need for unnecessary paperwork.

A key reason people use Efficient Remuneration Planning is because it is simple and it is client focused. With this solution, you do not have the burden of your own administration.

For more information please contact us