Personal Tax Planning
For individuals with multiple income streams or increasingly complex financial circumstances who want to plan ahead rather than react to deadlines.
Your tax position is personal
Personal tax has become increasingly connected to the wider financial decisions people make throughout the year. Your employment income, business interests, dividends, property, investments, pension contributions, overseas income and any change in residency can all play a part. A decision in one area can potentially affect your tax position in another.
Yet many individuals only think seriously about tax when a deadline approaches. By then, the opportunity to plan ahead may be limited. As part of our Tax Advisory service, IB&Co provides proactive tax planning support for individuals with more complex financial circumstances.
WHAT WE CAN HELP WITH
Our support can include consideration of:
- Personal income tax planning
- Self Assessment planning
- Property income
- Capital Gains Tax considerations
- Dividend and investment income
- Pension contribution planning
- Business ownership
- UK tax residency
- Overseas income
- Internationally connected financial affairs
Who it's for
A change in circumstances can create questions that are worth addressing before they become problems. A confidential tax review may be valuable if you are:
- Receiving income from multiple sources
- A company director or shareholder
- A property owner or landlord
- Planning to sell an asset
- Moving to or from the UK
- Receiving overseas income
- Working internationally
- Unsure about your current tax position
What you get
Depending on the scope we agree after your first call, you can expect:
- Identification of the key tax areas for your circumstances
- An initial assessment of risks and planning opportunities
- Priority recommendations and suggested next steps
- Where a detailed review is agreed, structured analysis, professional recommendations and an implementation plan
- Where required, ongoing planning and advisory support
What we do differently
Good tax planning is not simply about completing a tax return correctly. It is about understanding potential tax implications before making significant financial decisions. We look at how the different parts of your financial life fit together, because a decision in one area can affect your tax position in another.
A Proactive Approach
Your tax position is personal. And increasingly, it can be influenced by decisions that extend far beyond your annual tax return. A confidential tax review gives you the chance to consider those questions while there may still be room to plan.
How it works
Your first call is a Tax Planning Discovery & Scoping Call. The purpose of the initial conversation is to understand your circumstances and determine where IB&Co can provide meaningful advisory support. From there, the process follows five clear steps.
Discovery
We start by understanding your circumstances and objectives.
Scope
We identify the areas requiring further consideration.
Review
Where appropriate, we undertake a detailed advisory review.
Recommendations
We provide professional guidance based on the agreed scope of work.
Ongoing Support
Where required, we provide ongoing planning and advisory support.
Meet your adviser
Ishmael Bangura, Managing Partner
Ishmael Bangura is the Managing Partner of IB&Co Accountants. He has been a practising accountant and tax adviser in the UK for about 15 years, and in that time has advised more than 950 clients, including startups.
Ishmael is also an entrepreneur who has built and exited businesses of his own, and that experience of running a business informs how he approaches tax planning with clients.
Other Tax Advisory Services
Tax questions rarely sit neatly in one area. Explore our other Tax Advisory services below.
Business Tax Advisory
For SMEs and growing businesses seeking a more proactive approach to tax planning. We help owners and directors consider the tax implications of business decisions before the year end, not after it.
Director Tax Planning
For company directors and shareholders reviewing remuneration and income extraction strategies. Salary, dividends, pension contributions and the timing of payments can affect both your personal and company tax position.
Corporation Tax Planning
For businesses seeking greater visibility and planning around Corporation Tax. We help you bring tax considerations into investment, expenditure and profit extraction decisions earlier in the year.
Property & Capital Gains Tax
For property owners, landlords and investors. We help you understand rental income, joint ownership and Capital Gains Tax considerations before a sale, transfer or other major transaction.
Residency & International Tax
For internationally mobile individuals and those with overseas income or cross-border interests. We help you understand UK tax residency and overseas income questions before key decisions are made.
Inheritance Tax Planning
For individuals and families thinking about estate planning, gifting, trusts and reliefs. Inheritance tax planning is really about making sure your money goes to the people you care about.
R&D Tax Credits
For companies investing in innovation, in any sector. We help identify qualifying R&D activities, document the work and prepare claims, including the HMRC paperwork.
Tax Investigation Support
For individuals and SMEs facing an HMRC enquiry, compliance check or disclosure. We act as your authorised agent and deal with HMRC on your behalf, so you do not have to face HMRC alone.
Stamp Duty Land Tax (SDLT)
For property buyers, including purchases through a company and mixed-use property. We advise on reliefs, the higher rates for additional dwellings and possible SDLT reclaims, ideally before you exchange contracts.
Frequently Asked Questions
Individuals with multiple income streams or increasingly complex financial circumstances. For example, company directors and shareholders, property owners and landlords, people planning to sell an asset, and anyone receiving overseas income or moving to or from the UK.
Personal income tax and Self Assessment planning, property income, Capital Gains Tax, dividend and investment income, pension contributions, business ownership, UK tax residency, overseas income and internationally connected financial affairs.
A decision in one area of your finances can affect your tax position in another. If you only think about tax when a deadline approaches, the opportunity to plan ahead may be limited.
Yes. Being unsure about your current tax position is one of the situations where a confidential tax review may be valuable. We start by understanding your circumstances and what you want to achieve.
Not always, but it can help. Filing a return reports what has already happened. Tax advisory looks at important decisions before you make them, so you can understand the possible tax implications while there may still be room to plan.
Our Tax Advisory service is designed to complement your existing accounting and compliance work.
We quote after the discovery and scoping call, once we understand what you need.
Request a callback
Prefer us to call you? Leave your details, the service you are interested in and a convenient time, and a member of the IB&Co team will call you back to talk through your circumstances.
Talk to us before your next financial decision
Let’s start with your circumstances. Book a confidential initial conversation with IB&Co to discuss your circumstances and identify the areas where Tax Advisory support may be appropriate. Where detailed tax advice is required, we will explain the recommended next steps and engagement process.
Bring your latest accounts or tax return and a note of what you want to achieve.