Personal Tax Planning

Our professional tax planning experts in Northampton have helped a wide range of professionals reduce their tax bills and simplify their financial lives, offering unmatched expertise and simple, tailored advice to keep you HMRC-compliant and keep business ticking over.

If you’d like to book a free tax planning consultation with one of our accountants, please get in touch with us today.

Our personal tax planning services include:

As a working taxpayer, it’s important to consider the choices and decisions in your working life and what they might bring for your long-term tax burden and financial prosperity.

Elsby & Co work with you to understand your personal financial situation, short- and long-term objectives, and the tax implications of your available options. We can help you minimise your exposure to taxes like Inheritance Tax (IHT), Capital Gains Tax (CGT), income tax and more, while helping you take advantage of available opportunities. Our accountants can help calculate your personal tax bill and work with you to find ways to reduce it.

We offer personal tax advice and tax planning that can help save you money, time and a great deal of effort. The full scope of our tax advisory services includes (but is not limited to):

• Filing tax returns (including Self Assessment tax returns) – Accurate, on-time tax return filing with proactive reminders and a clear breakdown of what’s due and when. Our expert team can help you file your tax return with HMRC or, as part of our specialist service, liaise with them on your behalf.
• Income and profit extraction – For business owners, we can advise on the optimal route to extract profits from your business, whether salary, dividends or pension contributions.
• Tax reliefs and allowances – We can advise on Personal Allowance optimisation, marriage allowance where eligible, Gift Aid, pension contributions, ISAs and other tax-efficient saving strategies.
• Property and investment decisions – Our advisors can help you with regard to property decisions such as rental income, mortgage interest restrictions, disposals, and planning around the capital gains and dividend regimes.
• Family planning – Our team can explore school fee planning strategies and assist you with creating a manageable school fee plan, using both spouses’ and partners’ tax bands and allowances where possible.
• Inheritance tax planning – If you think your estate may have to pay inheritance tax, speak to our specialist team and see if we can find a solution to help reduce the amount on an IHT bill.
• Gifting strategies – Everyone has an allowance of £3,000 a year that they can gift as they please without paying tax. Our tax professionals can help you choose the best gifting strategy that meets your goals and gives you the most tax benefits.
• Trusts and estates – If you’re looking to control your wealth or protect your legacy, then speak to one of our tax advisors who can help you.
• Planning for a comfortable retirement – No matter what your background or personal circumstances are, we all have a desire to be comfortable, secure and enjoy life after work. Our trained team of tax accountants can help you plan for your retirement. There are several elements we focus on: cash savings, lifetime savings or pension and interim goals you may wish to achieve along the way.
• Other personal tax planning services – Alongside these tax services above, we also cover: remuneration strategies; advising on making tax payments; doing the necessary calculations; acting for you in any enquiry; as well as providing proactive advice on minimising your tax liability.

For more information, please take a look at our expanding resources section. We have further tax planning guides, including guidance on tax rates, allowances and deadlines, along with a tax calendar. We also provide a key summary of all key budget announcements from the Chancellor of the Exchequer.