Perhaps a good example of this in the tax planning arena is the concept that you need to pass businesses right down to your children.

Let’s take a usual picture of grandfather, father, and son. Father is the business starter, and has, let’s say, a busy limited company manufacturing doorbells. Because he gets on in age, should he, as the usual understanding suggests, think about passing the company to his heirs, perhaps with time?

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CGT Tax

You might think there’s not much to be done about CGT once the clients are eventually sold. The problem most often found in the real world would be that the company shares were acquired for a nominal amount at the time the entity was established, say a few hundred pounds of initial share capital. The company may now be worth several £ millions, and of course CGT takes over in the event you decide to spend.

You will find things that can be achieved about this situation to prevent penal tax rates. Alan Pink Tax can advise, happily, and with enough forward planning punitive tax rates could be avoided.

Another common issue relates to VAT.

VAT - Business Splitting

It can be very complex - as well as taking an inordinate time for you to set up. HMRC hate it and can penalise you if they can. However the method well known as “business splitting” continues to be the most popular method of legally escaping VAT. George Osborne, the current UK chancellor from the exchequer, has, we’re sure inadvertently, made things easier within the March 2011 Budget by increasing the VAT registration threshold from £70,000 to £73,000. So how are we able to utilize the method of "business splitting" (or, in some instances, perhaps we ought to say, not work)?

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Finally, tax havens!

The Great Escape - Tax Havens for Fun and Profit

Offshore tax havens are the shiny part of tax planning, perhaps, or avoidance if you prefer to use that dreaded term. Places like the Cayman Islands, Bermuda, as well as the Channel Islands, when mentioned, call to our minds the pictures of rich tax exiles lounging around the beach sipping cocktails, being served by well dressed waiters. You might not be surprised to listen to that much of the glamour isn't found out to be the situation in actual fact!

Anyway, whatever your tax issue, do let us assist you with it.