The end of the tax year is rapidly approaching so we have published our Guide to Year End Tax Planning to give you sufficient time to make the most of any opportunities.
Some relate to annual allowances and reliefs which may be used each year. Others relate to specific tax reliefs that may be withdrawn in the Chancellor’s Spring Budget Statement.
Chiefly of concern are Capital Gains Tax rates and deferrals, plus Inheritance Tax reliefs and rates. So if you are contemplating gifting or selling assets in 2021 we recommend you talk to your Alliotts advisor about the potential to bring forward such a transaction into the current tax year. It has just been announced that the Spring Budget is scheduled for 3 March 2021, so you may indeed wish to take action before then.
Click here to read or download Alliotts' Guide to Year End Tax Planning
Our guide offers practical, concise steps you can take across key issues, including:
• Income tax-saving for couples
• Tax-efficient investments
• Pension tax planning
• Tax planning tips for directors, employees and the self-employed
• Capital gains tax planning
• Inheritance tax planning
• Charitable giving
If you would like to discuss tax planning please contact us for specialist help and advice.