Personal tax planning is becoming more important as the Government attempts to close up any potential loopholes.
Without careful planning, it can often be the case that large parts of an estate fall into the hands of the Inland Revenue. Whilst this area of taxation can become complex, a lot can often be achieved by early planning.
If you are running a family business, have you considered what will happen when you wish to retire? Are you intending to withdraw from the business, leaving it to the next generation or will you sell it? If you are going to pass it to your children, have you thought about how this will be done?
As you look towards retirement and beyond, you will want to secure a comfortable standard of living for your retirement but without jeopardising the future of the family business.
We can assist you to minimise the impact of capital gains tax and inheritance tax upon any transfer of your business to your family. Our aim is to maximise your wealth in retirement and the value of the business handed down to the next generation.
Please contact us for advice and assistance.
NJJT Accountants 95a Connaught Avenue, Frinton
on Sea, Essex CO13 9PS, 0844 850 0071