Not everyone is aware that they have the right to arrange their personal or corporate tax affairs in a manner that will minimise the amount of tax they pay. The Stevens Partnership in Plymouth has a wealth of experience in tax planning that can improve both business and individuals’ tax positions.

Self assessment for individuals and partnerships has brought increased burdens on all taxpayers as it is now your legal obligation to meet the deadlines imposed by the legislation in order to avoid unnecessary fines and interest charges.

Capital Gains Tax is a tax on the profit you make when you sell an asset. Careful planning of capital asset disposals to utilise your annual personal CGT allowance is essential to minimise your capital gains tax liability.

Whether you are an employer or an employee, a higher rate earner or a married couple, find out how you are affected by the constant changes to Income Tax legislation.

The minimisation of a company’s corporation tax liabilities can help maximise the amount of funds available to reinvest in the business or to return to the shareholders. At The Stevens Partnership, we have a range of services to help you cope with increasingly complex Corporate Tax legislation together with a full tax planning service including:

Capital Allowances continue to offer legitimate, yet under-exploited opportunities to reduce tax liabilities for a wide range of capital expenditure in relation to property. This capital allowances regime is legislated by HMRC and is an entitlement too valuable to be overlooked.

With the huge increase in property values, Inheritance Tax is an area which could give rise to unexpected liabilities for the unwary. At The Stevens Partnership we can provide expert planning advice on the mitigation of potential inheritance tax liabilities.

Whether you are an employer, employee, employed or self-employed, awareness of National Insurance contributions (NICs) is vital. And with strong enforcement powers and anti-avoidance legislation available to HMRC, ensuring that you comply with your National Insurance contributions is of paramount importance.

Any client can be selected for enquiry by HMRC. It is estimated that there is a £40bn tax gap between what is due to HMRC and what they collect. As a result, HMRC has been tasked with reducing this deficit by £6bn over the next four years so all businesses are at risk of tax enquiry/investigation.

With HMRC becoming increasingly aggressive in their approach to raising tax, many clients like the peace of mind that, should they receive notification that their affairs are to be investigated, any time we spend on supporting the investigation, is paid for.