The 2016 Tax Action report from Unbiased.co.uk and Prudential shows that individuals in the UK are paying dramatically increased amounts of capital gains tax (CGT) at a cost of ￡208m (up from ￡158m in 2015). Almost 200,000 people face CGT bills totalling nearly ￡5 billion, at an average cost of ￡25,906 each.
Whether you are looking to save on income tax, capital gains tax, inheritance tax, or all three, there are various options available to you, such as an investment in a portfolio of EIS and SEIS shares which is well worth considering, as long as you are fully aware of the risks.
At Beavis Morgan we work across a broad range of sectors, advising entrepreneurial people with business ideas and an appetite for financial growth.
To find out more about the various tax planning opportunities available to you, contact Steve Govey or your usual Beavis Morgan Partner.