Despite what HM Revenue & Customs says in its advertisements, tax sometimes is rather taxing.

The rules, regulations and allowances change every year. Unless your financial affairs are simple and straightforward, you could easily end up paying more tax than you need to. No one would want to do that.

That´s why LB Group offers a range of services to help company owners, directors and others manage their tax affairs.

Tax planning

When it comes to tax, it pays to plan ahead. Once the year has ended, there´s little you can do to reduce the amount you have to pay. But if you plan ahead, you could make all sorts of savings.

We recommend that clients review their financial affairs and tax liability with us every year, well ahead of April 5th.

We can also help you choose between the alternative options available to you should you decide to sell your all or part of your business, sell shares or otherwise dispose of valuable assets. We may be able to reduce your liability for capital gains tax by a significant amount.

Inheritance tax

There are ways to reduce inheritance tax as well, allowing you to leave more to your family and other beneficiaries. The sooner you can take the right action, the more you can save.

Self-assessment

Eventually, of course, the time will come for you to submit your tax return and pay What´s due.

The more complex your affairs, the more complicated the return becomes. It´s easy to overlook or forget to claim allowances that could save you a lot of money or simply to fill the forms in incorrectly.

Fortunately, HM Revenue & Customs allows us to complete your return for you. We collate all the information that´s needed and use our expertise to make sure every possible allowance is claimed. It also puts in a good position to help you if the Revenue starts asking questions.

Advice in areas including savings and investments, mortgages, insurance and wealth management is available through LB Wealth Management Ltd.