1
Tax and Financial
Strategies 2018/19
The UK economy continues to face a number of ongoing
challenges. Meanwhile, the tax system is also facing
significant changes, as taxes become increasingly devolved,
and the introduction of the new Making Tax Digital
regime moves ever closer.
This guide is designed to help you to make the most of your business and your personal
finances, by highlighting the main tax allowances and incentives and suggesting strategies
that you might wish to incorporate into your own financial planning.
Of course, minimising the tax liability represents just one element of your overall planning
strategy. Every individual and business situation is different, and your needs will vary
according to your own specific circumstances. We recommend that you use this guide as a
starting point, and contact us for expert, tailored advice on any areas which apply to you.
As your advisers, we can help you to clarify your wider objectives, and suggest a range of
strategies to help you achieve your personal and business goals.
How to benefit from our services:
Please read those chapters which are relevant to you as soon as possible.
• Take note of the key points arising from this guide, and any action you may wish to
consider
• Contact us to discuss your action points, and to evaluate your long-term
financial plans.
We would welcome the opportunity to assist you.
The general effect of the Civil Partnership Act is to treat registered
civil partners on a consistent basis with married couples. For
the purposes of this guide we have on occasions referred only
to spouses.
‘HMRC’ refers to HM Revenue & Customs.
This guide is based on current understanding of legislation and
the government’s proposals at the time of publication and under
no circumstances should action be taken without first seeking
appropriate professional advice.
Contents
Page
Introduction 2 Business tax strategies 3 Tax and employment 8 Business exit strategies 11 Personal and family financial strategies 13 Retirement planning strategies 16 Savings and investment strategies 18 Tax-efficient estate planning 20 Key planning points 23 Tax Calendar 24