The British taxation system
is based around case law and statute created by successive governments.
Despite the recent overhaul of the tax system, tax law remains
complex, and as such many people find that professional assistance
in this area is a necessity. We stay abreast of the changing tax
laws so that we may assist our clients with their tax matters.
We have invested considerable sums in training, new technology
and systems in order to be able to ensure that your tax affairs
comply with the new rules and take advantages of the available
relief’s and concessions.
Income tax
The introduction of Self-Assessment has placed a greater burden
on individual taxpayers to keep their income tax affairs in
good order. We are fully conversant with all aspects of the
income tax system and can assist in the preparation of annual
income tax returns and their supporting schedules. We also work
closely with financial planning professionals of your choice
(or we can recommend one) to ensure that our clients receive
comprehensive advice regarding income tax planning opportunities.
Capital
taxes
The buying and selling of private businesses, deregulation of
share markets around the world, the Internet revolution and
a buoyant property market have led to an upsurge in private
investments by individuals. As a consequence of this trend,
capital gains tax issues are encountered much more frequently.
Armstrong Chase can help you ensure these issues are properly planned
and reported to the Inland Revenue so that you take proper advantage
of available concessions (such as taper relief and the annual
gains allowance) thus minimising your liabilities.
Inheritance
Tax and Estate Planning
Few of us could live with the thought that we have not made
adequate provision for family and friends who survive us when
we die. The legislation that governs passing on your estate
to your chosen beneficiaries requires you to plan well in advance.
The earlier you make the arrangements, the greater your chance
of taking full advantage of the tax opportunities available
and thereby maximising the amount that goes to your beneficiaries.
Nothing is more demoralising than the thought that a substantial
slice of the wealth you have worked hard to accumulate will
end up in the Government's coffers! It is equally important
when planning to transfer your estate that you make adequate
provision for yourself and your spouse in your later years.
Striking this balance calls for considerable skill and foresight
- and a detailed knowledge of the tax regime. We provide a discreet
inheritance tax and estate planning service that includes:
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Help with
drawing up and reviewing your will. |
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Making full use of exemptions
and lower tax rates on lifetime transfers. |
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Optimising lifetime
transfers between spouses. |
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Transferring agricultural
or business property. |
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Transferring assets
into trust. |
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Arranging adequate life
assurance to cover potential inheritance tax liabilities.
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Tax
investigations
Inland Revenue, HM Customs and Excise, and Contributions Agency
investigations are becoming far more commonplace than they ever
have been in the past. There is no doubt that these government
agencies are actively seeking to investigate as many returns
and sets of accounts as possible with the intent of raising
significant amounts of extra taxes.
We insure all of our clients against the professional fees
incurred when dealing with a tax investigation by the Inland
Revenue, Contributions Agency or Customs and Excise. The Inland
Revenue’s own statistics indicate that cases with such
insurance end up settling at 50% of the non-insured cases.
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