Our tax system always seems unfair when you look at your pay packet each month. You work hard to support yourself and your family, but before you even see it, a proportion of your salary disappears. Some of what is left you then save, but when that money makes a profit, the tax man takes another cut.
Even when you spend money, the tax man takes a slice, and after years of investing in a pension, you cash in for your retirement and there is the tax man once again. And finally, when it is time to hand the fruits of your labour over to the next generation, there is the tax man one last time, taking yet another share.
Making the most of opportunities
It is not all bad news however. There are a number of opportunities around for you to minimise the amount you actually have to pay. Across virtually all the different tax regimes, there are allowances and reliefs which you can use to minimise your bill.
There are income tax allowances, capital gains allowances, tax efficient savings plans and gift allowances, all of which, used wisely, can help you keep as much of your hard earned money as possible. All it takes is a little bit of planning and it could get you a long way.
Meeting the deadlines
The start of a new tax year is an ideal time to reconsider your options. New beginnings help to focus the mind on what needs to be done – and each tax year brings with it a new set of allowances, fresh for you to use.
At Marquee Wealth Management, we are dedicated to helping our clients make money through the combination of sensible tax planning and sound investment. We would also like to help you. Therefore, if you can spare just 10 minutes for an initial conversation, please give us a call us on the number above or drop us a line using the form to the left.
The FCA does regulate some forms of tax and estate planning.