Personal Tax Services
Optimum Tax Solutions can provide the full complement of personal tax services, ranging from child and working tax credit advice to High Net Worth Tax Planning. We always try to ensure that your tax liability is at its legal minimum. We aim to stay on top of the latest tax legislation developments and HMRC rulings so that you always receive the most up to date recommendations. We find it is best to plan your tax strategies throughout the year so that you have enough time to implement them before your tax return is due. We will discuss your financial situation with you and make recommendations to help reduce your tax liabilities.
Tax Credits Planning
Many people do not realise the value of Child and Working Tax Credits, with some households able to receive up to £15,000 each year. Some simple measures can have an interesting effect on net household income, to significantly increase the tax credits entitlement for young hard working families.
Inheritance Tax Services
With property prices in the UK having risen significantly in recent years, inheritance tax (IHT) is no longer a tax reserved just for the wealthy. If you have an estate with a value which exceeds the ‘nil rate band’ (currently £325,000) you could find yourself passing an unwelcome and unnecessary tax liability on with your estate on death. This can leave your family facing the prospect of having to sell assets in order to meet that tax liability. We can help you to reduce this liability by ensuring you benefit from all exemptions and reliefs applicable to gifts made during your lifetime; advise you on the use of trusts, where appropriate, to ensure your estate is protected from IHT as much as possible.
Tax Efficient Investments
Working with an Independent Financial Adviser, Optimum is able to provide clients with some interesting investment opportunities that can help reduce or defer their tax liabilities. This helps clients to keep more of what they generate and build wealth in the medium term. An interesting bi-product of this can be an increased level of Child and Working Tax Credits, which further enhance their income position.
Enterprise Investment Scheme (EIS)
The Enterprise Investment Scheme is an attractive way of investing money or indeed raising capital for your company, with total tax relief now potentially up to 78% for income and gains. Optimum is able to help you either claim the valuable EIS relief, or indeed obtain EIS status for your company from HMRC and advise you on the do’s and don’ts as regards ongoing qualification for the relief.
Optimum can value your company or business for whatever situation you require, be it for HMRC, potential takeover, financing, etc. We have undertaken many valuations for HMRC purposes, most of which have never been challenged.
We can assist with most aspects of VAT including: VAT Registration and the most appropriate VAT scheme for you (flat rate, cash accounting or annual VAT returns). We can also advise on the VAT aspects of transferring your business.
Capital Gains Tax Planning
Again, due to the significant increases in property values in the UK over recent years, capital gains tax has become a big area of concern for individuals, especially landlords. We can help you to reduce your CGT exposure and show you ways of deferring any historic CGT paid.