Year-End Tax Planning – Reducing Your Tax Bill 2016

A little planning can go a long way. The period leading up to 5 April is one of the best times to review your taxes and finances to reduce the taxman’s take.

Here is our summary of the important year-end tax tips to identify areas that should be considered prior to 5 April 2016 and how to structure your affairs for the new tax year. Tax advice should be sought prior to implementing any of the suggestions below.

 

Key Points

  • Look to make personal pension contributions before Budget Day on 16 March 2016;

  • Make use of other tax reliefs and allowances to reduce your rates of tax;

  • Consider paying a dividend as the dividend rates are increasing;

  • Make use of ISA allowances to save tax-free (although the new savings allowance will be beneficial for many).

 

Contents

  • Income Tax (Dividend Income and Pension Contributions)

  • Property Related Matters

  • Personal Savings Allowance

  • Tax Efficient Investments (ISAs and SEIS/EIS/VCT)

  • Capital Gains Tax (£11k Annual Exemption and Members Voluntary Liquidations)

  • Inheritance tax

 

Our comprehensive guide can be accessed here.

 

Search

Archives

Sign up for our newsletter

Interested in receiving the latest tax planning ideas?

Sign up to Tax Bites – our weekly update offering practical but effective tax saving tips.

Contact Us

You can use this form to request us to give you a call or if you prefer just leave us a message. Please be sure to leave us a contact number or email address for you and we will get back to you as soon as we can.

Phone
0161 927 9277

Email
office@forbesdawson.co.uk

Address
Fairbank House
Ashley Road
Altrincham
Cheshire
WA14 2DP