Plan Your Tax Returns

While the effects of the credit crunch on cash flow and business profitability are on the minds of many, the pending tax year end on 5 April 2017 provides an opportunity to ensure that your liability for the current tax year is not one penny more than necessary. With further tax increases on the horizon, there really is no time like the present to take a step back and look at how you are managing your personal finances and your business, and consider how you might reduce your taxes and/or improve your financial and business strategies.

In this guide we consider some of the ways you might act now to help achieve a more secure future for you, your family and your business. Please contact us now to discuss your specific situation and the planning opportunities you could consider before the end of the tax year. Acting now could pay dividends in the future.

Click on the links to read more about minimising your tax liability this year.

Summary of 2016/17 changes

This tax year has seen numerous changes that need to be taken into account when planning to reduce your tax liability.

Personal tax planning

Any personal allowance that is unused at the end of the tax year cannot be carried forward, so it is normal to ensure that as far as possible allowances are covered by your income every year.

Business tax planning

Tax planning for business owners could save you a considerable amount. We take a look at areas that could result in savings.

Investment tax planning

ISAs, Enterprise investment scheme (EIS), Venture Capital Trusts (VCT’s) and Pension Contributions

Capital tax planning

Reducing the tax you pay on your capital could make a big difference.

Offshore tax planning

The rules around offshore tax can be complex, but effective planning can result in savings. Read our guide to offshore matters.