Income Tax mitigation strategies are primarily concerned with avoiding income tax at the higher rate, currently 40% and the soon to be introduced 50% band. Our specialist Tax partners develop a number of schemes and strategies to mitigate all liabilities to income tax at the higher rate, and in some cases to obtain a rebate from Revenue & Customs of all higher rate tax paid during the previous three years. Taxable income includes:

• earnings from employment

• earnings from self-employment

• interest on most savings

• income from shares (dividends)

• rental income

• income paid to you from a trust

• most pensions income (State, company and personal pensions).

We can advise directors of Limited Companies to reduce their corporation tax by up to 80% through one of our dedicated structures.

Through the use of specialist trusts it is possible for the company to obtain a corporation tax deduction, to shelter company profits in a tax-free environment and for the directors and other employees to be able to access the funds with no Income Tax or National Insurance implications.

Planning includes the utilization of:-

We will also advise on the most tax efficient methods of receiving remuneration from the company.

Our Stamp Duty specialists have considerable experience of advising on how to mitigate Stamp Duty on both residential and commercial property. A brief summary is set out below:

• Our Stamp Duty Tax Mitigation strategy is available to individuals and companies

• For the purchase of either residential or commercial property

• Cost of property at £350,000 or above

• The Product is designed to eliminate 100% of Stamp Duty Tax. i.e. Stamp duty tax of 3% (below £500K) or 4% (above £500K) is eliminated

• Panel Solicitors used to protect IP and speed up the process. However, if preferred, a purchasers own Solicitor can retain the work and work in liaison with a Panel Solicitor.

There are a number strategies that have been developed to mitigate Capital Gains Tax (CGT) to deal with any type of asset you intent to dispose of We can advise on the capital gains tax implications of:

• quoted and unquoted share disposals

• business disposal • sales and gifts of property

• the availability of 'Entrepreneur's Relief' in relation to business assets

• the availability of reliefs on gifts to individuals and trusts.

Inheritance Tax mitigation has become more imperative in recent years. With property price rises and an increase in home-ownership, a large proportion of UK domiciled individuals will be exposed to inheritance tax (IHT) levied on their estates on death.

Inheritance Tax is probably the easiest of all tax to mitigate entirely with good planning and very little cost.

Our various partners have several effective strategies to mitigate this tax completely whilst still enabling individuals to have control and ownership of their estate.

We have formed an alliance with a partner that provides tax efficient remuneration planning for contractors and employees working in the UK and abroad that may be affected by IR35.

As part of the solution you will be an employee, and all your income will be subject to Income Taxes (Earnings and Pensions) Act 2003 (ITEPA). So you will not need to worry about IR35 and running your own company.

The solution includes:-

• Fully compliant and registered with HMRC
• Employed under a Contract of Employment
• Take home pay of ~ 83-85% of gross after taxes and costs
• Removal of IR35 risk
• Provision of all administration and insurances (e.g. PI)
• No joining or exit fees
• No minimum or maximum employment periods
• Personal account manager for each contractor
• Prompt payment mechanisms
• Comprehensive employee online portal to track and view payments, submit timesheets and download forms
• e-Payslips.