Are you ‘tax efficient’?
A question only a tax adviser would ask!
But this relatively new phrase is actually a very useful way to describe how your tax planning should look. In other words are you paying your fair share of tax and only your fair share? Not just this year, but over the course of your financial life?
At Tax Rebate Services, we consider your individual circumstances to formulate a bespoke tax plan that both maximises your tax relief entitlement and fully meets your tax liabilities.
Most taxpayers make sure that they pay enough tax; the potential consequences of underpayment are financially ruinous. But this is only one side of the tax system. It is designed so that there are many ways of decreasing your tax bill, but you have to participate in the process. If you, like millions of other taxpayers, avoid extra involvement with HRMC, then your tax situation may not be entirely efficient.
It is easy to be put off by the language of the Tax Office, the fear of penalties and the time investment. But you are missing out on legitimate tax savings that the government expects you to make. It is simply unfair that many taxpayers have overpaid and don’t reclaim because they are intimidated by the process.
Tax Rebate Services help UK taxpayers become tax efficient by using our expertise to help you access the tax reliefs and allowances that apply to your individual situation. There are complexities to be negotiated, particularly if you are a business owner or have multiple income streams. But that’s where over 30 years of experience and fully accredited professionals bridge the gap between you and HMRC. We also advise on any changes in tax law and how they impact on your finances.
People waste tax payments in many areas, including: pension payments, not using ISAs for savings, Capital Gains tax and not considering future Inheritance tax. This is not a complete list, many people also don’t claim for simple things like work expenses allowances.
Tax Rebate Services can help you analyse your current tax situation and show you how to become more tax efficient. Get your money back into your bank account.
To get in touch with your tax adviser please fill in our simple online contact form below or you can call us on 01228 520477.