I carry out tax planning with my clients if they feel that their tax bill is too high. There are lots of things that can be taken account of which will reduce your tax bill, some of which are as follows:
- Payment into a Pension
- Payment into a Charity which will enable you to qualify for Gift Relief
- Carry back of any unrelieved trading losses
These, and others, are taken into account which will help to reduce the amount of tax payable which anyone will be wanting to do!