Allowances
Maximise allowances such as the personal allowance, dividend allowance and savings allowance
Specialist Services
Personal Tax Advisory
Our tax advisory services are designed to support individuals to navigate complex tax matters, make informed decisions and keep more of what you earn.
Introduction
Giving You Clarity With Your Finances
Our specialist tax advisors work closely with you to understand your circumstances and goals, providing guidance on all aspect of your finances. We offer tailored services that help you manage your financial obligations and provide clear, practical strategies to minimise liabilities and allow you to take advantages of tax-saving allowances and reliefs while ensuring you remain fully compliant.
ExpertiseTalk to our audit team
Comprehensive Tax Advisory Services
CONTACT OUR TEAMOur team work closely with you to understand your unique circumstances, providing guidance on income tax, capital gains tax, inheritance tax and other personal tax matters. Whether you have straightforward tax affairs or more complex investments and assets, our team will help you identify opportunities, reduce liabilities and plan effectively for the future.
With our expertise and range of services, you gain clarity, peace of mind and a trusted partner dedicated to supporting your financial goals.
Exit planning
Exit planning
Our exit planning support helps you prepare for the personal tax implications of selling or stepping away from your business. Our team advises on all relevant income and capital tax considerations, helping you mitigate liabilities, secure available reliefs, and preserve the value released from your business.ess.
Residency Domicile Advice
Residency Domicile Advice
We provide expert residential, domicile, and international tax advice to help individuals navigate the complex UK rules around residence and domicile status. Whether you are a UK resident with overseas income, a non-domiciled individual, or moving abroad, we guide you through the tax implications of your personal and international affairs. Our advice focuses on compliance, minimising double taxation and structuring your finances efficiently.
Remuneration planning
Remuneration planning
We review your overall finances and advise on the most effective mix of salary, dividends, bonuses and other benefits to ensure you extract value from your business in the most efficient way. With careful planning, we aim to minimise your tax liabilities, make full use of available allowances and thresholds and align your remuneration strategy with your personal and business goals.
Management Incentive Planning
Management Incentive Planning
We help individuals understand and implement tax-efficient incentive structures to reward retain key employees. We advise on the most suitable incentive arrangements including share schemes and ensure they align with both the company’s commercial objectives and the interests of the management team.
Inheritance tax and succession planning
Inheritance tax and succession planning
We provide tailored inheritance tax guidance and succession planning to help you pass on your wealth and business efficiently. Our team advises on tax-efficient strategies, including lifetime gifts, trusts, and business reliefs, ensuring your assets are transferred smoothly while minimising tax liabilities.
The Lifecycle
Why Personal Tax Planning Matters
Tax planning helps to make sure that you don’t pay more tax than is necessary.
Sector Framework
Why choose Parsons ?
Whether you’re managing a standalone Insurance or leading a trust, Parsons provides tailored and expert support to meet your regulatory requirements, plan, and focus on delivering outstanding education.
PROVEN
RESULTS
Client feedback
“We have engaged Parsons as statutory auditor and are thrilled with their knowledge and professionalism. They have taken time to understand our business and us as individuals and have audited in a way which does not feel onerous and allows us to continue business as usual.”
Victoria McLeod
Director at Royle Recruitment
“I’ve worked with Ian and his team at Parsons for several years. They were instrumental in helping me to negotiate the successful sale of my first business and they continue to give me reliable advice and accountancy for my current business, Prosura.”
Jon Newall
CEO, Prosura Ltd
“York Medical Group have trusted Parsons as our finance and commercial partner for over six years. When the practice scaled up and merged several practices into one and became a Primary Care Network in its own right, we need fit-for-purpose financial systems. We outsourced our Financial Controller, Finance Administrator and strategic financial advice to Parsons and we haven’t looked back. Parsons manages our end-to-end financial systems including payroll and NHS pensions. They have the full confidence of the partners and senior managers in all matter relating to operational finance and development of the practice.”
Zulf Ali
CEO York Medical Group
“We outsourced our finance function because it gave us the flexibility and breadth of financial expertise we needed in the face of very rapid growth. The COVID pandemic saw our contractual income grow from a £2m to a £6.3m within a very short period of time. Our finance needs have changed along the journey and Parsons have been responsive in terms of ensuring that we maintained the level of support we needed.”
Maddy Ruff
CEO at Nimbuscare Ltd
“There was a lot of documentation and complex processes involved with the disposal of the business. I needed the advice of someone who understood what was required to ensure everything was done correctly and with my best interests at heart. Parsons certainly fulfilled that need. We has a very smooth deal which was comparatively swift and manged with calm professionalism by a good team. I felt well looked after throughout and would recommend Parsons to any other business owners looking to make the leap.”
Barry Vale
former owner at Ridings Reprographics
“Parsons have been with us since our first audit in 2023, supporting us as a privately owned SME in the flooring sector through an important milestone for the business. Their approachable, supportive manner made the process feel straightforward and reassuring, and we genuinely enjoy working with a team who are always on hand throughout the year to answer questions and offer guidance.”
Helen De La Rue
UK Trade Furnishings Limited
“The team at Parsons York is our first port of call when we need expertise to support key strategic decisions. We know we can rely on Rebecca and Mark to answer a call and provide immediate and sound advice when we need it. Parsons provide high-level strategic insight that complements our in-house finance team and gives us the ‘big picture’ transparency we need at the board table. They support decisions which impact the future growth and prosperity of the business and have been instrumental in our success to date. We regard them as an important strategic partner.”
Jordan Cook
Managing Director at PolyGlobal Ltd
“The team at Parsons understand my business very well, they truly care about the job they do and the clients they look after. Parsons looks after my tax affairs – previously for the business and my personal tax affairs now that I’ve retired. Having that long-term relationship has been beneficial because there is an existing understanding of our long-term plan, where we have come from and where we need to go in the future.”
Allan Binns
Former Managing Director at Incom Systems Communication Specialists Ltd
“Parsons have been managing my annual Self Assessment tax return for several years and they are so easy to deal with, I’ve even recommended them to other people. I like working with a local business and it’s important to me that my accountant is established and professional. There’s always someone there to answer any queries I have and I trust them to do things right.”
Nick Stokes
Business Owner at Stokes Creations
“The service from Parsons is very professional and efficient. I can always get hold of an accountant when I need them, they have reliable expertise and a very good understanding of my accounts. I know I can trust them to advise me on everything I need to know and any actions I need to take. I can’t praise them highly enough.”
Malcolm Bretton
Local Farmer based in West Yorkshire
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Support
Frequently asked questions
Answers to the common questions we hear from clients.
Still have questions?
Our specialist personal tax team is available for a no-obligation conversation to clarify your specific situation.
What is personal tax planning?
Personal tax involves organising your finances to ensure you’re paying the correct amount of tax while benefitting from available reliefs and allowances.
How can I reduce my tax bill legally?
By using legitimate strategies such as maximising ISA contributions, claiming reliefs, Capital Gains Tax allowance and making pension contributions. Tax regulations and allowances can change, so it’s essential to stay up to date on the latest information – our Tax Director can support you with this.
What is Inheritance Tax?
Inheritance tax (IHT) is tax on the estate of someone who has sadly passed away. This includes all their property, possessions and money. There are thresholds depending on the value of the estate and who you choose to leave the assets to. We can support you with succession planning including IHT.
How do I plan for taxes in retirement?
Planning for taxes in retirement means managing how and when you take income to minimise tax. Pension income is usually taxable but up to 25% can usually be taken tax-free and careful withdrawals can keep you in lower bands. Using tax-efficient savings such as ISAs, making use of your personal allowance and sharing income between spouses where appropriate can also reduce tax. It’s helpful to seek out professional advice to ensure your retirement income remains tax efficient.
How does Parsons ensure my tax plan remains compliant?
We stay informed of the latest tax legislation and HMRC regulations. Our dedicated tax team will make sure you stay compliant and up-to-date with any changes, giving you peace of mind your finances are taken care of.
When should I start planning for inheritance tax?
The sooner you start inheritance tax planning, the better. Planning early allows you to take advantage of any gifting rules, set up trusts and make other arrangements to reduce the taxable value of your estate. At Parsons, our Tax Director is an expert in supporting individuals plan for the future with IHT and is always on hand to answer questions and help you find the best option for your personal finances.