Top Tax Planning Tips for the Year End

With the end of the 2018/19 tax year fast approaching, now is a good time to review your finances to ensure you are making full use of the available allowances and minimising your tax liability. Personal planning Maximising the personal allowance The basic income tax personal allowance (PA) for an individual is set at £11,850 … Continue reading Top Tax Planning Tips for the Year End

Year End Tax Planning

With 5th April fast approaching, here are some tax planning suggestions you may like to consider before the end of the tax year. Income Tax and Capital Gains From 6th April the Personal Allowance increases to £11,850 and the Capital Gains annual exemption to £11,700. This provides opportunities to defer income and gains to the … Continue reading Year End Tax Planning

Year End Tax Planning Tips For Companies

  Corporation tax is set to reduce to 19% with effect from 1 April 2017 but opportunities still remain to reduce and defer corporation tax liabilities. Here are some you may wish to consider. MAXIMISE CAPITAL ALLOWANCE The annual investment allowance (AIA) provides 100% tax relief for qualifying expenditure incurred up to a limit of £200,000 … Continue reading Year End Tax Planning Tips For Companies

How Pension Planning Can Help Retain Child Benefit And Save Inheritance Tax

If you or your spouse/partner has an income between £50,000 and £60,000, your child benefit is clawed back at the rate of 1% for every £100, and for those earning above this, the claw back equals the whole amount of the benefit received. By making additional pension contributions, you could retain child benefits. For example, … Continue reading How Pension Planning Can Help Retain Child Benefit And Save Inheritance Tax

Pension Shake-Up

The rules regarding pension funds and how they can be drawn are changing radically with effect from 6 April 2015. The changes relate mainly to “defined contribution” schemes e.g. personal pensions, stakeholder pensions, self-invested pensions and pensions in drawn down contracts. The most significant benefits of the new rules are flexibility of how income can … Continue reading Pension Shake-Up

Saving Tax Before The 5 April Year End

Our Tax Saving Newsletter is now available here: Green & Co Tax Saving Newsletter It includes: Capitalising on personal allowances Making tax-efficient savings and investments Tax-efficient pension planning Extracting profits – tax-efficiently Considering your company car