JMC Accountants Logo Transparent

Personal Tax Planning

self employed man sitting down with laptop

Personal Tax Planning

Personal tax planning can be of great benefit to individuals. It helps you understand your income and liability, and when to expect them. It's main focus is to help reduce your liabilities and plan for the future, maximising your income where possible.

35 +

Years of

Established In

Get In Touch

    Let’s Get To Know Eachother

    Plan For Your Future

    Planning for your future is incredibly important, more so now than ever. Personal tax planning isn't just about increasing your cashflow in the present, its about protecting your personal affairs, family, and creating a long-term plan for success. We help clients do exactly that by tracking reliefs and allowances that are available, setting up a retirement plan, and diversifying your income for stability.

    Expert personal tax planning is a great investment that can save you both money and time. it reduces the risk of error, and maximises your income where possible. It will also provide you with ability to create a predictable forecast over upcoming periods, so you know exactly what to expect and when to expect it. With self-employment, individuals face a variety of tax implications on their income and investments, and without proper planning, you may end up paying too much tax.
    man watering plants that grow money, planning for future
    Learn more about your duties as an individual

    Get the latest information straight to your inbox.

    Pay the right amount of tax

    As an individual, you will always need to pay the right amount of tax, though many people end up paying too much, because they don't realise the reliefs and allowances they are entitled to.

    Minimise your tax bill

    A personal tax planner will be able to find opportunities to reduce your liability for your upcoming self-assessment.

    Diversify your investments

    Without proper personal tax planning, you may be losing out on additional income. An expert will be able to assess your situation and 'put your money to work'.

    Planning for your savings

    Income tax planning should also include an individuals savings. Steps can be taken to reduce income tax such as using ISAs or making pension contributions for your children.

    Take advantage of exemptions

    Many individuals, especially those that complete their tax returns themselves, don't pick up on the reliefs and exemptions they can use to their advantage.

    Planning for property

    If you own a property, it is crucial that you plan for tax on your investment. This aspect of tax planning can become increasingly complex.

    Personal Tax Planning Services

    Every change in an individuals circumstance can mean a change in their tax liability. Events such as marriage, divorce, or retirement can change how we are able to plan your personal tax. You situation will need to be assessed and monitored to ensure all available allowances and reliefs that are available to you, are taken advantage of.

    Each individuals situation varies, and some are entitled to exemptions that others are not. Our team of expert personal tax planners will help you to understand what tax reliefs and exemptions you can utilize. This will help reduce your tax liability.

    A big part of personal tax planning is understanding your income and liabilities. We work closely with you so that you have a clear idea of your tax position and what to expect. This way you know exactly what to expect and when to expect it.

    There are many ways an individual may reduce their liability, such as the already discussed exemptions and personal reliefs. Personal tax planning will help save you money and time through these reduced liabilities and ensure it is put in the best place to maximise its potential. It will also make sure you’re not paying tax where you don’t need to.

    cartoon elderly man enjoying retirement lying on beach chair

    Avoiding Fines & Penalties

    If you're not paying enough tax it could result in fines and penalties issued by the revenue. Personal tax planning will allow you to calculate your returns accurately and precisely, so that you're paying the right amount of tax, but also not increasing your liability where you don't need to. In addition, you will also be claiming the correct reliefs and allowances so you don't have to worry about claiming something by mistake.
    Get in touch for a free quote

    Use the form above to submit your information for a call back

    Our Team

    Meet The Personal Tax Planning Experts