---
title: Tax planning; what if any, is acceptable?
description: ‘What, if any, tax planning is acceptable?’ and ‘is there a difference between tax planning and tax evasion?’
image: https://blog.shorts.uk.com/hubfs/Images/Brick%20wall%20images/Rachael%20Dronfield.jpg
---

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# Tax planning; what if any, is acceptable?

Rachael Dronfield - 27 February 2015

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###### With yet another tax avoidance scandal hitting the headlines and fresh pre-election promises to tackle tax avoidance being announced, it is not unreasonable to ask ‘what, if any, tax planning is acceptable?’ and ‘is there a difference between tax planning and tax evasion?’

In fact, with the amount of new legislation introduced year on year to tackle these problems, is it still possible to plan an individual’s tax affairs?

Well, it is fair to say that most tax avoidance schemes are aimed at large companies or the very wealthy, as by definition, they have the profits or wealth to be taxed. Unfortunately some of the rules introduced to prevent such tax avoidance do affect ordinary business and individuals, particularly partnerships, but in general, the good news is that most of us can carry on as normal.

For income tax, this could mean using personal allowances and lower rates of tax as much as possible or making pension contributions in order to benefit from tax relief at up to 45%.  For capital gains tax, this might be splitting disposals before and after 5 April in order to utilise two years’ worth of annual exemption.  For inheritance tax, using annual exemptions, marriage exemptions and the gifts out of income exemption should not be overlooked.  It is also acceptable for a married couple or civil partners to arrange their tax affairs to benefit from the above mentioned allowances, exemptions and reliefs.

Where larger values are concerned, it is often worth checking in advance whether expected reliefs will be available on a disposal, transaction or death, as some advanced planning may ensure a tax liability will not arise. This is simply making sure that an individual or company’s tax affairs are in line with the conditions required for a relief. In contrast, ignoring or re-writing the rules to suit a particular set or circumstances is not acceptable, as some are now finding out.

This does leave a ‘grey area’, where things may not be appear as clear-cut.  Fortunately, our knowledge of the legislation and case-law, along with experience of dealing with HMRC, can all assist with planning your tax affairs within the letter and the spirit of the law, so please do not hesitate to [contact us](https://www.shorts.uk.com/contact-us/) if you need to clarify your own position.

 

![author](https://blog.shorts.uk.com/hubfs/Images/Brick%20wall%20images/Rachael%20Dronfield.jpg)

#### Rachael Dronfield

Prior to joining Shorts, Rachael gained 13 years’ experience with Grant Thornton, specialising in inheritance tax, will planning and trust matters. Widely acknowledged as one of the leading private client advisers in the region, Rachael has considerable technical knowledge and experience. Rachael is a Chartered Tax Adviser, with an advanced qualification and full membership of the Society of Trusts and Estate Practitioners. Coupled with a Diploma in Financial planning, she is perfectly placed to advise individuals and trustees on tax planning opportunities, estate planning and investment strategies. Rachael’s appointment as private client director in January 2014, was a direct response to the growth experienced within the inheritance tax and financial planning sectors, and Shorts’ commitment to strengthening our Private Client team of Wealth Planner and Tax Advisers.

[View my articles](https://blog.shorts.uk.com/author/rachael-dronfield)

 Tags: [Private Client](https://blog.shorts.uk.com/topic/private-client), [Business Taxes](https://blog.shorts.uk.com/topic/business-taxes)

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