Year End Tax Review 2007 Contents A word to the wise Employee pensions A matter of trust Pension policies Family tax planning Mr and Mrs Inheritance tax Employee cars and fuel Borrowings and tax Tax-free perks Two jobs = too much NIC? Give generously and save tax Children's savings? Company or trade? Capital gains Business tax Investment limits Should VAT be flat?

A word to the wise 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.