Now might be the time to think about new equipment for your company. Your business year-end, not 5 April, is relevant for capital allowances purposes....
Consider other tax efficient investments
If you are looking for tax efficient investments opportunities, have you considered the Enterprise Investment Scheme (EIS)? These investments in certa...
Have you used your 2019/20 ISA allowance?
Your maximum annual investment in an ISA for 2019/20 is £20,000. Your investment needs to be made before 6 April 2020. In addition, have you though...
Pension planning before the end of the tax year
For most taxpayers the maximum pension contribution is £40,000 each tax year, although this depends on their earnings. This limit covers both contrib...
Don’t lose your personal allowance!
For every £2 that your adjusted net income exceeds £100,000 the £12,500 personal allowance is reduced by £1. Pension contributions and Gift Aid ca...
Year end Capital Gains Tax planning
Have you used your 2019/20 £12,000 annual capital gains exemption? Consider selling shares where the gain is less than £12,000 before 6 April 2020....
Further changes to entrepreneurs relief?
Another tax relief that may be further restricted or even abolished is CGT entrepreneurs relief. This relief allows business owners to pay just 10% ...
Inheritance tax in the spotlight
We are expecting major changes to inheritance tax (IHT) in the March Budget following two reviews by the Office of Tax Simplification (OTS) and also a...
Another chancellor – big changes in the budget?
What does a new chancellor mean? It will be nearly 18 months since the last Budget and in the meantime we will have had three different chancellors fo...