Allowances
Maximise allowances such as the personal allowance, dividend allowance and savings allowance
Specialist Services
Personal Tax Planning
Effective personal tax planning is about more than filing you tax return on time. It’s about a proactive approach to managing your finances, minimising your tax obligations, protecting your wealth and planning for the future.
Introduction
Building trust through technical precision
Our specialist tax advisors help you make the most out of your income, investments and estate providing tailored solutions that help you take full advantage of tax-saving allowances and reliefs while ensuring full compliance with the latest UK regulations.
ExpertiseTalk to our audit team
Comprehensive Tax Planning Services
CONTACT OUR TEAMWe ensure you stay fully compliant when filing your tax returns by preparing and submitting all required information accurately and on time. Our proactive approach ensures HMRC compliance and provides peace of mind that your personal tax affairs are well-managed.
We work with you to understand exactly what you are wanting from your finances in the future and can support with a range of services.
Exit planning
Exit planning
We offer a detailed exit planning service to ensure your departure or sale of the business is structured in a tax-efficient and compliant way. 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.
Residential domicile and international tax advice
Residential domicile and international tax 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 advise on structuring pay and incentives in a tax-efficient way that supports retention and motivation. This includes salaries, bonuses, benefits and share-based incentives such as Growth Share Plans. By aligning reward structures with performance and long-term goals, we help businesses incentivise key people while managing tax exposure effectively.
Business and partnership tax advice
Business and partnership tax advice
We provide clear, practical advice to help businesses and partnerships manage their tax obligations efficiently. Our team supports with corporation tax, partnership income allocation, available reliefs and forward planning. The focus is on compliance, reducing risk and ensuring tax decisions support wider commercial objectives.
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…
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…
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…
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…
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…
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…
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…
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.…
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.