Tax Planning

Our Tax Planning service covers the four main areas of taxation: Income Tax, Corporation Tax, Inheritance Tax and Capital Gains Tax. We have many strategies to mitigate your tax liability, usually by simply having a good understanding of how the tax system works. By making use of Tax Relief where it’s available and ensuring that plan are correctly structured, we are able to deliver considerable tax savings in some circumstances.

Click on the relevant links to discover some of our ideas…

Income Tax

Many people feel that income tax is the catch-all tax that no-one can do anything about. This is not necessarily true; although everyone at some point will pay some income tax, the amount payable can be reduced in very straightforward ways.

Sometimes this is merely a case of checking that our clients are receiving the tax relief they are entitled to; sometimes it means restructuring their income to make the best use of the tax rules. Whatever is the best option, we liaise with our clients’ accountants where possible to deliver tax mitigation strategies which really work.

Corporation Tax

Businesses are often not aware of simple and effective ways of reducing their corporation tax bill. GSI are able to provide services which will increase the stability of our clients’ businesses and reduce the corporation tax bill in that financial year. We generally work with our clients’ accountants to ensure that the tax planning tools available are used effectively to ensure our clients are not paying more tax than they should be.

Capital Gains Tax

Capital Gains Tax (CGT) is often the sour side to an investment success. Effective planning tools used before an investment is made can mitigate the CGT liability, and our clients often benefit from such tax-aware planning.

If our clients have investments that were made prior to their relationship with GSI, we can sometimes mitigate the CGT liability by restructuring the investment. Our relationship with our clients is very important to us, and we will always try to achieve our clients’ goals if at all possible.

Inheritance Tax

Inheritance Tax (IHT) has been described as, “A voluntary tax”. To some extent, this is true; you could always spend all your estate prior to your death and have no liability at all! Our clients sometimes feel this would be frivolous, so we use many strategies to mitigate their IHT liability, from simple gifts to more complicated trusts.

People often think that IHT is an old person’s problem, but this is far from the case. Our clients are successful people who have built significant wealth, and this wealth could attract an IHT liability in the event of death. GSI feel that it is never too early to plan for IHT mitigation.

Whether our clients have an estate worth £400,000 or £4million, we are able to work with our nominated firm of solicitors to put trusts or investments in place to ensure that IHT is not a problem that will need to be dealt with after our clients’ death.