HM Revenue & Customs (HMRC) has revealed that over 100 BBC stars are being investigated for alleged tax avoidance, having used personal service companies to minimise their tax bills. At the same time, it has been revealed that football star Wayne Rooney is facing a £3.5m tax bill after HMRC challenged investments he had made in a film investment partnership, and interim England manager Gareth Southgate has also been hit by a tax demand after investing in partnerships set up by investment firm Ingenious.
Whilst HMRC is cracking down on more aggressive tax planning strategies, there are many forms of perfectly legitimate tax planning opportunities available to both individuals and businesses.
With research by Unbiased.co.uk and Prudential showing that Britons are set to hand over £4.6 billion in unnecessary tax payments this year, isn’t it time you consult a taxation specialist who will review your individual situation and advise you of the options available to you?
At Beavis Morgan we work across a broad range of sectors, advising entrepreneurial people with business ideas and an appetite for financial growth. Our tax specialists, some of whom are former HMRC Inspector of Taxes, are well versed in dealing with all types of tax issues.
Whether you are looking to save on income tax, capital gains tax, inheritance tax, or all three, there are various legitimate tax planning opportunities available to you. To find out more, please contact Alan Ford or you usual Beavis Morgan Partner.
Further reading: HMRC reviewing card records in crackdown on small businesses