You Snooze you Lose
The team at Investing For Tomorrow are busy making sure our clients make the most of their opportunities to reduce tax, just one facet of ensuring we use our wealth to the best possible effect.
This is true of both our personal business planning as well as optimising business proceeds for tax.
Unfortunately, this is where that human tendency to put things off runs out of road, we need to act now to ensure the best possible result. The methods and opportunities are too extensive to cover in an article and of course need to account for personal circumstances, however to discuss a few:
- We can help utilise your personal allowance; not everybody has an £11,500 allowance but there are ways most people can benefit.
- Make the most of tax relief while you can, you may be able to give that pension a boost without it breaking the bank.
- Use those dwindling dividend allowance, the tax free £5,000 will be slashed in April, make the most of it whilst you can.
- Minimise tax on your gains, we had a competition in the office and came up with eight diverse ways to reduce capital gains tax, unfortunately you can’t use any of them once the deadline has gone.
- Effectively use the family tax bands, HMRC will give you relief on tax you haven’t even paid.
- Make sure those ISA allowances have been all used up, careless acts costs tax!
Investing For Tomorrow are ready and waiting to help, there are no false deadlines here. Give us a call on April the 4th and we’ll jump through hoops, but March 4th would be better.