Contents
Don't leave it to chance
Family tax planning
Tax payback - tax credits
Pay rise for the other half?
Jam today, or jam tomorrow?
Pension payments and tax relief
Employee pensions
Children's pensions?
Borrowings and tax
Investment limits
Employee cars and fuel
Give generously and save tax
Capital gains
Capital losses
Second homes
Company or trade?
Inheritance tax
Children's savings?
Business tax
Two jobs = too much NIC?
Should VAT be flat?
Mutiny and bounty
One careful owner
A matter of trust
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Most people would prefer not to think about tax, but if you can bear to do so, you may end up paying less of it. It's a good idea to review your tax affairs at least once a year, and the end of a tax year is a good time for it. Of course, the best plans are not hurried - the last day of the tax year is not the best time for making them. But there are often things that can be done to save tax, and 5 April is usually the last day for actually putting them into effect. Under self-assessment, 31 January is the time limit for paying tax and for filing returns and most claims. 5 April is still important as the cut-off between one year's income and another's. This leaflet sets out some of the points which should be included in a "year-end tax review". Some of them stay the same from year to year, some change a little, some are completely new. Of course, the precise circumstances of each individual have to be taken into account in deciding whether any particular plan is suitable or advantageous - but these suggestions may give you some ideas to discuss with your advisers.  |
© Bayar Hughes & Co., 2010.