Preserving and maximising your wealth. Taking you further.
The tax code is hopelessly long and needlessly complicated. Successive Finance Acts added to it but have raised little extra tax revenue, confirming the law of diminishing returns. The personal tax calculation is now so complex that HMRC’s own software cannot successfully deal with all permutations.
We are in need of comprehensive reform. A simple savings and investment allowance of around £5,000 will keep all of those with minor savings out of the tax system. A unification of income tax and national insurance into a single tax will remove the personal tax incentive to move between employed and self-employed status, although some solution will need to be found for the national insurance burden, which falls on employers and represents an employment tax.
We provide you with specialist assistance in all areas of tax compliance and planning for you, your family, and Trusts.