“Every man is entitled if he can to order his affairs so that the tax attaching under the appropriate Acts is less than it otherwise would be.” (Lord Tomlin in the House of Lords judgment of Duke of Westminster v Commissioners of Inland Revenue ).
Effective tax planning is an important part of personal wealth management. Just as taxes have increased and the legislation imposing taxation has grown more complicated, the need has never been greater to turn to experienced tax professionals for advice. Welbeck Solutions has a proven track-record in introducing clients to tax specialists offering bespoke tax solutions for both businesses and private individuals, drawing on established relationships with leading law firms, accountants and investment banks.
Tax planning may be of particular interest in the following situations:
• individuals who are higher rate or top rate taxpayers for income tax purposes;
• individuals with a net worth of more than £325,000 seeking to divest themselves of assets or otherwise plan for inheritance tax purposes;
• individuals seeking to extract capital from their businesses;
• individuals contemplating disposals of assets which may realise a large capital gain;
• businesses seeking to increase after-tax returns for owners.
Each person’s circumstances will be unique and we will always advise that you take independent tax advice in relation to any tax solutions that we introduce to you. However, we can advise you generically and provide you with a range of ideas which might suit your individual circumstances.
To start, we suggest an informal, obligation-free, exploratory meeting on a strictly confidential one-to-one basis, to discover what your current circumstances are and the possible options open to you. Investing half an hour of time could prove to be one of the best investments you ever make.
UK tax legislation contains provisions requiring promoters of, and in certain cases participants in, arrangements that fall within the Disclosure of Tax Avoidance Schemes rules in Finance Act 2004 to disclose such arrangements to HM Revenue & Customs. Further changes are due to be made to the rules with effect from 1 January 2011. Further information regarding these rules, including whether or not these rules apply to any specific financial product and how these rules may affect you, can be given to you by the provider of that financial product or by your independent tax adviser.