Tax

Our dedicated tax specialists are able to provide you with proactive tax compliance and planning advice on all aspects of personal tax, from preparing your personal income tax self-assessment tax return to full tax planning reports. Our aim is to enable you to make informed decisions that are right for you and your family. This means protecting and maximising your wealth while minimising your tax exposure by implementing practical solutions tailored to your personal circumstances and objectives.

No matter what your specific tax goals are, our team will provide carefully tailored advice that allows you to protect your existing wealth, generate additional income and provide for any future generations.

To find out how we charge for our tax services for individuals, please get in touch.

Speak to our tax experts today

To discuss your tax planning and compliance needs with a member of our expert team, or to learn more about our fees for these services, please contact us today.

Call us on 0131 270 7700, visit our offices in Edinburgh, Glasgow, East Lothian or Shetland, or fill in our enquiry form at the bottom of the page to request a call back.

Our specialist tax services

We provide a comprehensive range of tax services to individuals and families. This extends to all other associated interests, including family estates, land and property, business interests, overseas interests, trusts, executries, etc.

Our tax experts specialise in providing inheritance tax (IHT) and capital gains tax (CGT) planning advice to individuals looking to carry out proactive lifetime wealth planning while managing the level of their tax exposure. Lifetime gifting and structuring tax efficient Wills are two areas where we have particular experience and expertise.

We will make you fully aware of the potential practical, financial and legal implications of any tax planning measures available to safeguard your future welfare and/or financial security. This includes working closely with other departments to ensure that any tax advice dovetails with your other objectives, for example, commercial considerations.

We’re here to help you navigate this complex area of the law, taking the time to discuss your current wishes and future goals. The advice we provide will be tailored to your personal situation.

Tax planning

It should go without saying that no one wants to pay more tax than they should. That’s why ensuring your tax affairs are carefully mapped out is crucially important, particularly as it could allow you to defer, reduce or eliminate your general tax exposure.

Our tax planning service includes:

Inheritance tax (IHT) planning

You should be aware that, if your estate is worth more than the current IHT nil-rate band and residential IHT nil-rate band, your loved ones may have to contend with extensive IHT liabilities following your death.

Avoiding these liabilities is certainly possible, but it requires a carefully thought out approach and extensive forward planning.

Our tax planning experts can work alongside you to advise on methods of reducing the potential IHT liability on your death. This may involve making lifetime gifts, creating trusts and maximising the availability of the nil rate band and residence nil rate band. Advice can be provided on the making of or amendments required to Wills to achieve tax planning objectives.

Capital gains tax

You may be subject to capital gains tax (CGT) where you make a gain on the disposal of certain assets.

Our team can work alongside you to ensure that you have plans in place to minimise your CGT liability, which may include taking actions such as transferring assets and spreading gains over more than a single tax year.

Income tax

For individuals who pay higher and additional rates of tax, the importance of regularly reviewing their personal tax position and that of their family should not be underestimated.

Our tax experts in Scotland can work alongside you to carefully review your income sources and identify opportunities to reduce your tax liabilities.

Tax-efficient investments

There are certain investments which could help to defer, minimise or even remove tax liabilities altogether. However, sourcing these investments can be a complex process and will be affected by a number of factors. It is always important to seek appropriate financial advice when considering such investments.

We can sit down with you to guide you through the various tax reliefs that may be available, assessing and advising on the potential tax implications and consequences of the various options.

Leaving and returning to the UK

There are various tax implications to consider when leaving the UK to live overseas or when returning to the UK after a period abroad, which is why careful planning is necessary to ensure no detail is overlooked.

Our expert tax team will be able to advise you in relation to the application of the UK statutory residence test and domicile rules, as well as planning options that arise from you leaving or returning to the UK.

Tax compliance

The UK tax regime is constantly evolving and the penalties for non-compliance are strict. It is vital that you’re acutely aware of your obligations and what steps you need to take to ensure your returns are completed accurately and efficiently.

Why choose our tax experts?

Our tax compliance team forms part of one of the largest teams of dedicated tax specialists in Scotland. We have extensive experience and expertise in personal tax matters, having supported many clients who have come from all walks of life.

Our team comprises eight Chartered Tax Advisers, Law Society of Scotland accredited specialists in tax law, Members of the Law Society of Scotland’s tax committee and members of the Society of Trust and Estate Practitioners (STEP). It is one of the largest tax teams in Scotland working in law and our people are vastly experienced in all areas of personal tax.

We also have specific expertise in advising businesses on general tax planning matters. For more information on this, please click here.

Speak to our tax experts today

To discuss your tax planning and compliance needs with a member of our expert team, or to learn more about our fees for these services, please get in touch today.

Contact us on 0131 270 7700, visit our offices in Edinburgh, Glasgow, East Lothian or Shetland, or fill in our enquiry form at the bottom of the page to request a call back.