Contents
New Year's resolutions
Investment limits
Borrowings and tax
Family tax planning
Mr and Mrs
Give generously and save tax
Jam today, or jam tomorrow?
Tax payback - tax credits
Bringing it back home
Children's pensions?
A matter of trust
Children's savings?
All change for gains
Second homes
Portfolio gains
Capital ideas
Tax-free perks
Employee pensions and NIC
Pension policies
Employee cars and fuel
Business tax
Pay rise for the other half?
Company or trade
Two jobs = too much NIC
Should VAT be flat?
VAT and cash
Inheritance tax
One careful owner
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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.  |