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What is Tax Planning?

Contrary to popular belief, tax planning is different to both tax avoidance and tax evasion, both of which HMRC is working hard to close any current loopholes and make any schemes harder to implement. Tax Planning  simply involves using the current legislation and regulations exactly as the Government intends, while minimising your taxes.

Isn't avoiding paying taxes illegal?

No, not at all. There is nothing wrong by working within the current regulations in order to keep more of your hard earned money. This is NOT tax evasion, which definitely is illegal. Tax Planning is where you operate within the limits of the law, while using a tax structure that simply works in your favour.

Can Tax Planning Be Challenged?

Bearing in mind what we've already said about tax planning, in that it works within the limits of the law, it is unlikely that any challenge could be successfully made to any tax structure that is setup in this way. Remember, this is not tax evasion, which is illegal and could easily be challenged, or tax avoidance which is still legal, but more likely to be challenged. There is a lot of uncertainty surrounding these issues, primarily generated through the media, that confuses tax planning and tax evasion or 'unacceptable tax avoidance', making it 'bad' or 'immoral' to use perfectly compliant options to ensure they keep more of what they earn.

Isn't tax planning only for the wealthy?

Gone are the days where 'tax planning' was only for the wealthy, the rich and famous, multi millionaires, politicians and corporate directors. If you are self-employed you should really be investing in some sort of tax planning., especially as nowadays there are many options available. You will find solutions on this site for people earning  £35,000 or more per year (£140 per day). So start becoming more tax efficient today!

I don't have the time for all of this!

A common misunderstanding is that it can take a lot of time to sort out the correct solutiuon. We know you are busy with your job and career,as that's what you do, and thinking about sorting what may seem to be a complicated issue is just too much like hard work. Let us help. Use our experience, expertise, and market research and let us present the most suitable solution to you. There are no fee,s and we can sign you up within 24 hours.

Isn't the Government trying to stop schemes like this?

The 'popular' opinion in this area is deliberately blurred by the press, media, the Governments own stance and hearsay, to confuse people and make them think that tax avoidance, evasion and planning are all the same. With tax evasion and avoidance the Government has pledged to close any loopholes and is always focusing in these areas. With tax planning, which is using the laws in the way the Government intends, the revenue do not mind.

What's the shelf life of these type of products?

No form of tax planning lasts forever as tax planning is not a static process. By its very nature it will evolve over time. You should therefore be looking for solutions that provide you with long term benefits and that offer a sustainable approach.

What tax strategies do you offer specifically for freelancers and contractors?

When deciding to look further into tax planning, make sure you choose a specialist who works with contractors and freelancers. We offer a range of solutions that cover your current situation if you are Self-Employed, working through an Umbrella Company or using a Limited Company. We will organise contracts with your agency, handle the invoicing and payments and provide a tax efficient strategy or you to keep more of your hard earned cash. We take care of everything.

Will I still have to do all the admin?

When you sign up with one of our tax efficient strategies, we will take almost all of the administration away. Depending on the solution, you will no longer have to worry about chasing invoices, ornanising your receipts, sorting out the VAT return, preparing your accountant or carrying out general administration. YTou can focus on providing a high standard of service to your client. The only thing you'll still need to do is to complete a time-sheet but even that's done online. That's it.

What is there's a change in the law?

Tax laws inevitably change, so good tax planning prepares for this. We are able to offer different solutions covering many different situations, so if a major change in the law happened, which is very unlikely, we would look to convert you to a more suitable solution. This should be part of your tax planning; you should always have a backup plan. You don't know what the law will be the next time it changes, so be prepared.

What costs are involved?

The tax planning we offer and the solutions we provide do not attract an upfront fee, or in fact, any tie in, or leaving fees. Any fees are included as part of the solution and the amount we say we'll pay you will not change due to any fee's. We want to be transparent. Neither will you need to purchase any additional insurance as this is included as part of the solution.

Do I have to commit to a long term contract?

We understand the nature of being a Freelancer or Contractor. Your working situation can change quickly and the last thing you want is to be tied into a long term contract unable to extract yourself from it. With our solutions there is no commitment. If you feel unhappy with the service provided or wish to change and work with someone else, you can. There are no joining fees and no exit fees. Before you go however, please check as if your situation is changing, like working abroad, then maybe we have a solution that better meets your needs.

Will this all help if I'm at risk from IR35?

Compliance with IR35 is very important for Contractors and Freelancers and our employed and self-employed strategies are designed to ensure they are fully compliant under IR35 regulations. If you chose a limited company structure then we would support you in getting full advice on this issue.

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