Are You Asking the Right Questions About Saving Tax?
Are You Asking the Right Questions About Saving Tax?
Some things seem too good to be true, our tax planning products are no exception.

Some things seem too good to be true, our tax planning products are no exception, but with sound and honest answers to your genuine questions, you needn’t be so sceptical.

After spending a weekend at a product taster event for short-term orthodontics, it strikes me more than ever how much information and detail we crave.

With this particular dental product, it almost seems like there’s an element of ‘too good to be true’ and not being a dentist I am clearly not qualified to have an opinion. However, having sat in the lectures myself, I could hear the questions being raised by the sceptical GDPs and the speaker was able to answer everything – and I mean everything, beyond the satisfaction of the questioner, whilst providing evidence to back up everything he said.

Now, this speaker is world renowned in dentistry, very charismatic, very credible, he draws the audience in and takes them on a journey. Because he is such a great speaker, one of your thoughts might be ‘am I just being sold to?’ The answer is ‘potentially – yes’, but the evidence supporting the product was so irrefutable there could not be any doubt.

During the breaks, the delegates wanted to know how to save tax.

Two or three simple fact-finding questions later and it turns out they fit the mould for one of our really simple and effective tax planning products, saving them £thousands in tax a year.

We can actually see the sirens going off in their head – ‘but wait, what?! Is it legal? There must be a catch, what’s the catch? Tell me the catch immediately!’

The truth is, whilst it may depend on an individual’s attitude to risk, there isn’t really anything to worry about. The balance is so far in your favour the catches don’t seem like catches:

  1. You may have to use a different mortgage broker when you need a mortgage (we can recommend you some);
  2. You are ultimately liable for your own taxes – no change there then;
  3. You may have to renegotiate your income protection (if you have any);
  4. The government could change the legislation – in which event you would stop doing it as you cannot be prosecuted retrospectively;
  5. HMRC will find out – no reason why they would find out but even if they did, the tax planning is compliant with all UK tax law;
  6. HMRC will dip into my bank account and take all my money – nope, they simply cannot just do that. Banks have rejected this proposal.

So why give away your money to the tax man? Many of your peers are taking advantage of the situation and keeping a much higher percentage of their earnings than you are – legally.

If you want to find out more, contact Hive to see if you qualify for these fantastic savings: 01872 300232 or email us at hello@hivebusiness.co.uk.

The information contained in this article is based on the opinion of Hive Business and does not constitute formal tax advice. Any tax outcomes will be based on individual circumstances, tax legislation and regulation, which are subject to change in the future. You should seek specific advice before embarking on any course of action. Hive Business does not provide regulated Financial Advice, including advice on investment, insurance or lending products or their suitability for you. This article is provided for information only and does not constitute, and should not be interpreted as, investment advice or a recommendation to buy, sell or otherwise transact, or not transact, in any investment including Bitcoin and other crypto. Any use you wish to make of any information contained within this article is, therefore, entirely at your own risk.

By Team Hive
If you have any questions or comments about this article, please get in touch.
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