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General tax planning
The most tax-efficient strategy is to only make losses on your assets, investments and businesses or to spend all your money in your lifetime. If, however, you can reduce, defer or avoid tax, it means that you can spend more, take a lower amount of risk in pursuing your objectives or leave a larger legacy. Over the past few years the rhetoric from the Treasury and Her Majesty’s Revenue and Customs (HMRC) has seen tax-avoidance planning (which is legal) described in a similar vein to tax evasion (which is illegal). There has been a lot of talk about taxpayers paying their ‘fair’ share of tax and the ‘immoral’ nature of those who seek to exploit legitimate tax-planning opportunities for personal gain.
It is an accepted ...
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