For most, tax is an integral part of their business and financial planning.
For virtually every material business decision there is a right way and a wrong way. Minor changes to the way in which a deal is structured may have a huge effect on the tax consequences. This can be from the way that the business is structured, how assets are held and by whom, the way that machinery acquisition is financed, the timing of the acquisition, or even the amounts and dates of drawings from the business.
In the longer term, there are the potential consequences of Capital Gains Tax and Inheritance Tax, where failure to fully consider the effects of what you do now can result in immense tax bills in the future which are quite legitimately avoidable if the correct strategy is adopted now.
The business structure, the way the older generation are funded in their retirement and the potential use of trusts are just three areas where what you do now can have a huge effect on future tax bills.
We fully appreciate that tax cannot and should not be the driver of your business decisions. These decisions should first be made on a commercial basis, but once taken you are fully entitled to structure them in a way that produces the minimum tax charge or greatest amount of relief.
As well as decisions directly relating to your business, you should also take account of personal investment and taxation, as it may be possible to invest to shelter both income and capital from immediate tax charges, as well as the value of your estate in the long term.