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
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
CODE NUMBERS Check your code to ensure you have been given the correct personal allowances, including relief for pension contributions and gift aid donations if liable to higher rate tax. PENSIONS With a general election a few weeks away it cannot be certain that the current generous reliefs will remain in place. It is important … Continue reading Year End Tax Planning – Points for review before 5 April!