Year end tax planning

With one month to the end of the tax year there is still time to save tax for 2015/16.

With one month to the end of the tax year there is still time to save tax for 2015/16. We have set out some points you may want to consider.

  • Review dividend payment timing - with new dividend tax rates and a ¬£5,000 dividend allowance from 6 April 2016, the timing of dividends could make a difference to the tax charge.
  • Consider¬†company car options - going forward for each tax year the taxable percentage increases 2% for each CO2 emission band and the diesel 3% supplement which was expected to be abolished from April 2016 is now to be retained.
  • Review personal pension contributions to ensure annual allowances are being used effectively as from 6 April 2016 the annual allowance may be tapered for those with incomes over ¬£150,000.
  • Defer capital gains by reinvesting in Enterprise Investment Scheme shares.

Please contact us to discuss your personal situation.

Have we convinced you yet?

Please feel free to get in touch via phone email or our quick contact form.

We offer initial free consultations simply contact us to find out more.

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