It was Abraham Lincoln (allegedly) that said there are only two things in life that are certain… Death and Taxes. Nearly all transactions, and events, have tax implications. Each one will have its own rules, filing and payment deadlines too. Our tax experts understand that clients have an objective when they run a business or undertake any sort of transaction. It may be to make money to live off, build wealth for the future, protect assets, involve family in the business, or any of hundreds of unique plans they have.
Our role is to understand these objectives, and the various taxes that may be impacted by them, so that we can guide the client on the most appropriate course of action.
That is not just thinking about the obvious taxes that might arise such as income tax or capital gains tax, but a wide range of less obvious ones such as Stamp Duty, Inheritance tax, National Insurance and charges on excess pension funds or excess pension contributions, the list is almost endless. There is also a whole load of anti avoidance legislation that you can fall foul of if you are not careful!
The reality is that tax is complex, ever changing, and impacts in some way on almost every situation.
So speak to our tax experts to get advice before you make any decisions, so that you understand the full implications on current and future taxes.