Profit extraction
How directors take money out of a company: the balance of salary, dividends, pension contributions and benefits, and how that mix changes as profits grow.
CTA-Qualified Tax Planning
Tax Planning Birmingham
A tax return tells you what you owe. Tax planning changes what you owe — but only if the conversation happens before the decision, not after it.
Profit extraction
Incorporation
Disposals
Succession
How we work
Plan before the year ends, not after
Three steps, a fixed fee agreed upfront, and a clear answer on whether planning is worth doing in your case.
01
Review where you are
Income, business structure, assets, existing arrangements and what is likely to change in the next year or two.
02
Set out the options
What each route would mean in practice, what it would cost to implement, and the trade-offs. Plain figures, not jargon.
03
Act before the deadline
Most planning has to be done before the tax year ends. We tell you what needs doing and by when.
CTA qualified
Chartered Tax Adviser, CIOT
489 Google reviews
Fixed fees
Agreed upfront, no hidden charges
Free consultation
No obligation to proceed
Most tax advice arrives too late to be useful
By the time a tax return is being prepared, every decision that determined the bill has already been taken. The property has been sold. The dividend has been paid. The equipment was bought in the wrong accounting period.
Tax planning is the conversation that happens first. It looks at decisions you have not taken yet — how to take profit out of your company, whether to incorporate, when to sell, how to structure a growing property portfolio — and works out which route leaves you better off, before it is too late to choose.
Gondal Accountancy is based at 1126A Stratford Road in Hall Green, Birmingham. Our team includes a Chartered Tax Adviser (CTA) of the Chartered Institute of Taxation, which is a specialist tax qualification rather than a general accountancy one. That matters most on exactly this kind of work: the decisions with several possible answers, where the right one depends on the detail of your circumstances.
If you need tax returns, VAT, HMRC enquiries or day-to-day compliance, that is a separate service and we handle that too.
What we help you plan for
These are the decisions where getting advice early makes a measurable difference, and where leaving it until the return is prepared usually means the options have closed.
Incorporation
Whether a sole trader or partnership should become a limited company, what it costs to make the change, and at what point it starts to make sense.
Timing of disposals
Selling property, shares or a business. When a disposal falls across tax years, splitting it can make a material difference to what you keep.
Pension planning
Personal and employer contributions, unused allowance carried forward from earlier years, and where a company contribution works better than a personal one.
Spouse and family planning
Transfers between spouses, joint ownership of rental property, and employing family members where they genuinely work in the business.
Property portfolio structure
Whether to hold rental property personally or through a company, and what the finance cost restriction means for a growing portfolio.
Capital allowances and timing
When to buy equipment or vehicles, which allowances apply, and how the date of purchase affects which accounting period gets the relief.
Exit and succession
Selling or passing on a business. The reliefs available depend on structure and holding period, so this is planning that needs years, not weeks.
Why 5 April is the date that matters
The UK tax year runs from 6 April to 5 April. Most personal tax planning has to be in place before that line, because allowances generally do not carry over — if an annual allowance is unused when the year ends, in most cases it is simply gone.
That creates a straightforward rule of thumb. Planning conversations belong in January and February, not in the following January when the return is due. By then you are nine months past the point where anything could have been changed.
Company planning works to your accounting period rather than the tax year, which is why a company year end and a personal tax year end usually need looking at as two separate exercises. Larger decisions — an exit, a restructure, passing a business on — often need a run-up of several years rather than several weeks, because some reliefs depend on how long something has been held or how it has been structured.
Allowances, rates and reliefs change at most Budgets, so we have deliberately not put figures on this page. For current rates see HMRC rates and allowances on GOV.UK, or ask us to check where you stand.
Who tax planning is worth it for
Not everyone needs it. If your affairs are simple and your income is stable, a well-prepared tax return may be all you require, and we will say so rather than sell you something you do not need.
Planning earns its fee when something is changing — your income, your structure, your assets, or your plans for the business.
It is usually worth a conversation if you are:
- Company directors deciding how to take money out of the business
- Sole traders wondering whether to incorporate
- Landlords growing a portfolio or restructuring one
- Anyone selling a property, a shareholding or a business
- People with income from several sources at once
- Business owners planning an exit in the next few years
Talk to a Chartered Tax Adviser
Tell us what you are weighing up and we will tell you whether planning would change the answer — and what it would cost — before you commit to anything.
Tax planning: common questions
A tax return reports what has already happened. By the time it is prepared, the decisions that determined the bill have been made. Tax planning happens beforehand: it looks at decisions you have not taken yet and works out which route leaves you better off. We do both, but they are separate pieces of work.
Before the tax year ends on 5 April, and before any significant transaction. If you are selling a property, incorporating a business, taking a large dividend or making a pension contribution, the conversation is worth having beforehand. Afterwards, the options have usually closed.
Not always, and we will tell you if it will not. Sometimes the honest answer is that your current arrangement is already the sensible one. What planning reliably does is make sure you are not missing an allowance or relief you qualify for, and that you understand the cost of a decision before you take it rather than afterwards.
No. We work with the allowances, reliefs and structures set out in tax legislation. We do not advise on marketed avoidance schemes, and we would advise against them. Nothing we recommend would be a problem to explain to HMRC.
It depends on your profit level, how much you need to draw personally, whether you have other income, and what you plan to do with the business long term. Incorporation brings extra filing obligations and costs, so it is not automatically better. We can run the comparison for your actual numbers.
Our team includes a Chartered Tax Adviser (CTA), qualified through the Chartered Institute of Taxation. The CTA is widely regarded as the highest level of tax qualification in the UK, and it is a specialist tax qualification rather than a general accountancy one.
We agree a fixed fee before any work starts, based on the complexity of your situation. A single decision such as an incorporation review costs less than an ongoing planning relationship. The first conversation is free, and we will tell you what the work involves before you commit.
Still have a question? Call 0121 439 9760, send us an enquiry or browse our full FAQs.
Related services
Planning works alongside the compliance side of things. We also handle tax returns and HMRC compliance, Capital Gains Tax, Corporation Tax, auto-enrolment pensions and business planning and forecasting. Common situations we advise on include limited companies, landlords and sole traders.
Other Specialist Tax Services
Specialist tax support for individuals, businesses, landlords, investors and creative professionals.
Looking for a Chartered Tax Adviser in Birmingham?
Speak to Gondal Accountancy for specialist tax advice, tax planning and accountancy support.