End of year tax planning
As the 2019/20 tax year draws to a close, there are some simple tax planning opportunities that you may want to take advantage of before the possibilities end on 5 April 2020. Income Tax free allowances Making sure that you…
Time to spring into action
With a late spell of wintry weather it would be easy to overlook that spring is supposed to be here! Whilst a new tax year is not widely celebrated it does mean that tax opportunities for the year about to…
Get on the right track with the best start and remunerate yourself properly!
The problem with tax is that new tax law is constantly being created to reward certain behaviours and discourage others. To be fair this is probably essential for economic and social management however it does create a myriad of choice…
Reguarly share a slice of your surplus income and save IHT
Last year seemed to be a particularly bad one for the entertainment industry and public alike as we lost so many talented entertainers including Sir Terry Wogan, David Bowie, Caroline Aherne, Alan Rickman, Victoria Wood and Ronnie Corbett amongst notable…
Using your IHT reliefs with yearly gifts
There are many ways in which you can start your Inheritance Tax (IHT) planning now by making gifts that don't have any IHT implications. Gifts of any assets including cash, to any person, trust or company, will not be fully out of…
Tax planning for individuals
Tax lock Legislation has been introduced to set a ceiling upon the main rates of income tax and NI for the duration of the current Government. Whilst this allows some degree of certainty, this goes against the Parliamentary principle that…
The New Dividend Regime? The Impact and possible year end planning
The way dividends are taxed is changing as of 6 April 2016. There was a worry that dividends from owner managed businesses would be treated as salary but thank goodness this didn’t happen! The way they are taxed for…
Marriage Allowance availability
When doing your self-assessment tax return for 2015/16, are you entitled to an extra tax saving from the new Marriage Allowance? If we are doing your tax return, don’t be offended if we ask about your husband or wife’s…
Buy-to-let: Minimise your tax liabilities by planning sooner rather than later
Letting a property out can be a great investment and provide an extra income. However, with stamp duty land tax, income tax, capital gains tax and inheritance tax all potential liabilities, it can also be complicated and confusing. So, from…
Plan for your children’s educational future
With university fees increasing and a large number of people sending their children to private schools, planning for the costs is really not a bad idea! Through effective, government approved tax planning, you can ensure that fees are not being…