Tax Planning

When it comes to taxes — whether it’s income tax, corporation tax or VAT — it is wise to ensure you aren’t paying more than you need to. Taxation can be very complicated and the rules, reliefs and allowances are subject to change. It’s important to stay aware of the current laws to ensure that you can manage your personal finances in a tax-efficient way. By understanding how taxation works you should be better prepared to manage your finances and could end up saving money in the long run.

In the UK the tax year runs from 6th April through to 5th April. During this time the Government requires everyone to pay an appropriate level of income tax on their earned income, which helps to pay for public services like education and healthcare. As well as income tax, you could also be liable for capital gains tax on profits you make from any chargeable assets you have sold or for tax on gifts you have made during your lifetime. If your estate is over a certain value when you die, it will also be subject to inheritance tax.

Tax planning is best done with the help of a financial adviser or accountant. Advanced Asset Consultants assess your financial situation and look at your goals in order to formulate a suitable strategy to help you plan in advance and use lawful reliefs and allowances to minimise the amount you have to pay.

This may include checking your annual and lifetime allowance with regards to pensions as there are many people getting caught out due to the reduction in the levels allowable under the new rules, resulting in additional tax being incurred.

Financial Guides

January/February 2017 Magazine

January/February 2017 Magazine

Investment Outlook: Taking advantage of opportunities in 2017



A Guide to 2016/17 Year End Tax Planning

A Guide to 2016/17 Year End Tax Planning

Taking advantage of planning opportunities means getting tax savvy now


News + Media

HMRC Capital Gains tax increases by 60%

Wednesday February 15, 2017

HM Revenue & Customs (HMRC) collected an additional £140m from investigations into unpaid capital gains tax (CGT) over the last financial year. Through analysing data from HMRC, £55m of the figure came from investigations relating to ‘wealthy individuals’ and mid-sized businesses with the remaining £85m stemming from regular taxpayers and small businesses. The substantial numbers …


Top Trump -So what now ?

Thursday January 26, 2017

His inauguration on Friday 20 January. Trump was sworn in as the 45th President of the United States on the steps of the US Capitol at noon, when current president Barack Obama’s term expires. WHO ARE THE CLEAR WINNERS? Initially, the clear winners of this seismic election result appear to be US infrastructure and business. …


Breaking the Taboo of Defined Benefit Pensions

Friday September 02, 2016

Conventional wisdom has historically seen ‘final salary’ pensions being held up as the gold standard of retirement provision. This is due to the benefits of these pensions typically outweighing what most people in an alternative ‘money purchase’ arrangement could receive in retirement. As such, transferring benefits away from a final salary pension into an alternative …


BREXIT :Two Weeks on from decision

Friday July 08, 2016

life cover, life insurance, life assurance, trusts, discretionary trusts, tax planningA brief look at the FTSE 100 would suggest that not much has been happening since the UK voted to leave the European Union (EU). In fact, the FTSE 100 was at its highest level since August 2015 on Friday 1 July. The initial reaction in financial markets to the referendum result went as expected. …



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Registered in Scotland SC362302 Advanced Asset Consultants Ltd. is authorised and regulated by the Financial Conduct Authority FCA Registration No: 506551 The Financial Conduct Authority does not regulate National Savings or some forms of mortgage, tax planning, taxation and trust advice, offshore investments or school fees planning.

The information contained within this site is subject to the UK regulatory regime and is therefore targeted primarily at consumers based in the UK. This website is designed to provide you with general information only and does not attempt to give you advice on any particular investment or to recommend any particular investment to you. If you have any doubt as to whether a particular investment is suitable for you, you should contact Advanced Asset Consultants Limited on 0141 331 2434.

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