Wherever you find high earning individuals or companies with high profit margins, you'll find adroit tax planning strategies.

Whether we like it or not, the wealthy can usually find completely legal opportunities for wealth protection.

A host of companies in the UK now provide robust tax mitigation strategies for individuals and companies which aim to reduce levels of tax being paid. You can also get the best tax planning service in Uk.

These strategies tend to be targeted at high earning individuals – in excess of £150,000 per annum – and focus on reducing their income tax liability. There are considerable benefits advertised by advisers, especially for the self-employed, who can mitigate, in some instances up to £80,000 they have paid in the previous three years.

And, what's more, such strategies are completely above board, having been approved by the Upper Tier Tax Tribunal.

There are a variety of other income tax mitigation strategies available from tax planning vendors, some, for example, focus on Government-incentivised tax reliefs for investment in worthwhile projects.

Naturally, it is vital for any individual adopting any income tax mitigation strategies to only undertake actions in tandem with the law of the land, there is a world of difference between well deployed tax planning strategy and tax avoidance.

This pertains also to relief from trading and investment profits for individuals and companies. Remuneration trusts have long proved an effective and legal tax planning strategy for protection of such profits.

Here an incentives plan can be funded through a tax-free remuneration trust environment, with contributions fully deductible against income tax and corporation tax.

Once funds are lodged in such trusts they can both grow tax free or be accessed tax free, and obviously have legacy potential, being passed to named beneficiaries on death tax-free also.

There's rarely a week goes past without scare stories about pension funds, so it's unsurprising that another popular tax planning strategy revolves around pension release.

As long as all the legal conditions of the releasing any funds are observed, individuals can then opt to try and maximise their funds elsewhere. Such strategies are a useful rejoinder that it's not only the very wealthy who can enjoy the benefits of legal tax planning strategies.

Corporation tax can be defined to a layman as the tax paid by the company on its taxable profits. Every company is bound by law to pay this tax. All companies have to fill in the Corporation Tax Return Form to the Inland Revenue along with all the supporting documents to validate the tax preparation.

For smaller companies the form to be filled is known as CT600. While maintaining their daily accounts it is imperative for the company to maintain the records in such an order that a precise Tax Return for the company can be filled. You can also choose the best tax resolution companies in US.

No matter what the law says it is obviously not appreciated by any company to simply pay off such large amounts as corporation tax. So what is the solution in such cases? This is where a professional firm comes in the picture.

Professional accounting firms offer services to prepare your tax preparation and ensure that you "legally" pay significantly lesser amounts as corporation tax. There may be instances of over-charging, under-charging or you may end up filling the form inappropriately.

The simplest solution to all these hassles is to let a professional take over. The experience and knowledge of professional accounting firms is the best in the industry and it can save you a lot of precious time and money.

It is legally compulsory for companies to file in their Tax Return within twelve months after the end of the accounting period. If the company does not complete their tax preparation and subsequently pay the corporation tax, they are heavily fined and penalized.

In case you are doubtful about the money involved in hiring such services you would be glad to know that the charges are negligible compared to the quality delivered. At the end of the day the money and time you would be able to save would surpass the fees you pay.