Work with us to reduce your tax bill

Your tax plan is a journey that is constantly changing, as is the environment that affects it. Allow us to guide you on that journey.

Have you ever had that nagging feeling, that little doubt in your head, that certain people are paying less tax than you, and that you are not taking advantage of every tax-saving opportunity that is available to you?

The costs of poor financial planning or lack thereof are considerable. Two identical businesses, with the same cash flow each year, with two identical investment returns can have dramatically different outcomes depending on how well they’re structured.

In a LinkedIn post about this topic, I estimated that after 10 years, the return can be more than 280% if the business is structured correctly. Read the article here.

We are so confident in our expertise and years of experience that we guarantee you at least double the yearly savings in tax, compared to our fee.

Our process to reduce your tax bill

Our process to reduce your tax bill

JLA Tax Planning Process

THE RESEARCH

We help you divide your financial life into 3 categories. Your personal finances, your business finances and your savings/investments. Each of these categories needs completely different strategies and plans.

a.    Your personal finances – How much do you spend to live and what do you like to spend your money on? We go through those numbers, which might include fantastic cars, expensive watches, or holidays. Once we understand that, we look at the core fees, find out how much you actually need to spend, and re-structure your personal finance to be as tax efficient as possible.

b.    Business finance structure – we look at structuring the tax within your business. Some of your personal spendings are business deductions and should be claimed that way. Additionally, we might look at how you recognise revenue because it significantly affects your profits. Research and development tax credits. Patent box ( Use the Patent Box to reduce your Corporation Tax on profits – GOV.UK (www.gov.uk)). Pensions. There are many ways of reducing tax within the company. Nothing aggressive, just a simple, efficient thought out restructuring.

c.    Savings & Investments – You like to save or invest money in one way or another and we help you find ways to make your money go further. We can look at pensions, or potentially buying a residential property, just something that works within what you want to do and your goals.

                                              i.    I had a client who liked to put £40,000 per year into ISAs. As a consequence, we had to give him significant post-tax income and it cost an enormous amount of tax. Instead, we could have a similar investment in a pension, rather than ISA. We gave our client the advice to let him do what he wanted, put away money in the stock market, but by structuring differently we literally saved him over £40,000 tax per year. So in effect, he is putting away £80,000 not £40,000 just through tax savings

 

THE FORMULA

We help you divide your financial life into 3 categories. Your personal finances, your business finances and your savings/investments. Each of these categories needs completely different strategies and plans.

a. We systematically review your personal circumstances, so we understand what works for you. Then we produce your personal “formula”. The formula is your tax structure. How it works personally, how it works within your company, and how it works for your savings. As we mentioned, it is your own, personal formula. If your circumstances change, or your desires change, we will work with you and change the formula to keep your wealth growing.

b. Also, we monitor any tax legislation changes and other external factors which can have a significant impact on your finances. Planning with corporation tax at 25% isn’t the sma eas at 19%, and we have plans to help take more funds, pre tax

 

THE COMMUNICATION

Good communication is paramount to achieve long-term success. By having that communication, we can make a real difference.

 

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