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Income Tax Planning

Certain individuals have large problems with income tax. These aren’t necessarily high earners however, additional rate taxpayers certainly have a need to conduct some income tax planning.

Another section of society who requires this sort of planning is, perhaps surprisingly, those approaching retirement.

This is for various reasons, but two things that people don’t want to be doing in retirement are paying too much income tax and making tax returns. This is especially true given the increasingly complex nature of the world of finance and tax.

Income tax planning doesn’t simply mean being tax efficient this year, but in the future too.

High Earners

There are a number of tax wrappers that we use to drive down the taxable portion of income that people earn and can be used to reduce income tax.

The mainstay of these solutions being pensions and EIS, VCT and SEIS portfolios.

There are a number of additional, higher legislative risk products that are available that can reduce income tax. However, these tend to be quite complex products that need a lot of explanation. As mentioned, these products carry a great deal of legislative risk; especially given consideration to HMRC’s new stance on up-front tax payments on disputes. The tax-man is now going to be focussing on people misusing AIM portfolios as described above and DOTAS and other arrangements covered by the GAAR.

Stocks & Shares ISA

Additionally, these investors need to start placing money in ISA too. It may seem like a small saving, however it all adds up and with no lifetime limits on ISAs presently these represent a fantastic long-term manner in which we can embed truly tax-efficient value into our investor’s portfolios.

Get in touch 

To set up a meeting with a specialist member of our team, please get in touch with your local branch or fill in our online enquiry form and we will be in touch shortly. We have local branches across Lincolnshire, Nottinghamshire, and London in Boston, Bourne, Grantham, Horncastle, Lincoln, London, Newark, Sleaford, Spalding, and Stamford.


Please remember that past performance is not necessarily a guide to future returns. The value of units and the income from your investments may fall, as well as rise. Investors may not get back the amount originally invested.

Please note that the Financial Conduct Authority does not regulate taxation advice.