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?

Investment limits Contributions to some tax-favoured investments are capped for each fiscal year.The limit for Individual Savings Accounts (ISAs) is £7,000 in total. You can put up to £400,000 a year into Enterprise Investment Schemes (with 20% relief and possible CGT deferral), and £200,000 into Venture Capital Trusts (with 30% relief). Extra pension contributions may get better relief if you make them before the end of the tax year. Of course, the tax relief does not on its own make something a good investment - but if you are thinking of putting money into one of these schemes, you may want to do so before 5 April to maximise the benefit. Action Point! Do you want to top up your investments?