Five tips to cut your lifetime tax bill
If you consider the amount of tax you or your clients have paid over their lives in various forms to date, you may look back and find areas where you could have saved money.
Chris Mattos, tax partner at Randall and Payne, set out five small changes to make to reduce clients' lifetime tax bills in his presentation at the UK200Group conference in Newcastle last month.
Using an example of "Bob", a fictional client with a tax bill of £1m over a lifetime, Mattos broke down the client's bill into categories such as income tax, NI, council tax, SDLT and VAT.
However, he argued, by employing these five changes, Bob could have cut £250,000 off his bill.
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