Taxation

Taxation is everywhere, income tax, corporation tax, value added tax, inheritance tax, capital gains tax, insurance premium tax, landfill tax, import duty, fuel tax to name but a few. We even pay tax on taxation when VAT is applied in some cases.

The whole area of taxation is becoming ever more complex. It has never been more important to ensure that you receive the right advice for your own specific circumstances if you are to keep the amount of tax that you pay to the minimum.

Many different rates of taxation apply under varying circumstances and the possibility of overlooking available reliefs and tax planning opportunities has never been more apparent.

The change to self assessment in areas of direct taxation has succeeded in moving the burden of responsibility for ensuring that the correct amount of tax is being paid, to the taxpayer. This in turn increases the possibility that you could become liable to pay interest and even penalties in respect of tax liabilities that you had incorrectly calculated yourself in all good faith.

Tax is a complex issue, but whether you enjoy substantial wealth or have more modest assets, you will share a common goal – you would prefer not to pay more tax than you have to.

We recognise that many people could benefit from expert advice to identify strategies and solutions to help them make more of their money.

So whether you are a high net worth individual, or one of the nine million people who complete a self assessment income tax return each year, we can offer expert advice on managing your tax affairs in the most cost-effective way.

We’ll tailor our tax planning advice to suit your particular financial circumstances, including issues ranging from income tax to inheritance tax and capital gains tax and the complex residence and domicile tax regime.

At IMG Chartered Accountants and Business Advisors we provide our clients with specialist advice covering all areas of taxation and we will be pleased to discuss your own specific requirements.