Plan more, pay less

Tax affects everyone. To minimise the impact of taxation on your assets, it’s important to plan ahead as much as possible. With Ashcourt Rowan’s advice and guidance, you can identify Income Tax, Capital Gains Tax and Inheritance Tax responsibilities and legitimately reduce your liabilities.

Income tax

Income tax is usually deducted via the PAYE system – but from payroll giving and Gift Aid right through to salary sacrifice, we can look at your circumstances in detail and help you make the most of your tax relief allowances.

With our expertise to hand, you can also take full advantage of tax wrappers – like ISAs – understand how they could benefit your portfolio, and make tax-efficient plans for the future. In addition, Ashcourt Rowan can help you make effective plans for minimising tax within your retirement plans.

Inheritance Tax (IHT)

Generally, Inheritance Tax is paid by your estate after death. It becomes payable when an individual’s estate – including any assets held in trust and gifts made within seven years of death – is valued over a set threshold (£325,000 in 2011-12). If it’s worth more than this, then tax is payable at 40% on the amount over the threshold.

However, with careful planning you can structure your affairs in advance to minimise these liabilities for your beneficiaries. Ashcourt Rowan can advise on many legitimate reliefs, exemptions and allowances (like gifts and trusts) that could result in paying less IHT and passing on more of your estate to your beneficiaries.

Capital Gains Tax (CGT)

Capital Gains Tax is levied on any profit made when you ‘dispose of’ an asset or possession. This includes selling the asset, transferring ownership, exchanging it for something else, gifting it to someone or receiving compensation for its loss.

It’s a complex area of finance and legislation that changes frequently. Ashcourt Rowan can help you work out your annual allowances, and advise on ways to potentially reduce the amount of CGT you may need to pay.