News: March 2011

End of tax year planning action

We are ready to advise on all tax planning possibilities by reference to your specific circumstances, with plenty of opportunities to save tax either by taking action by 5 April or indeed delaying until the new tax year.

Areas worth considering include:

• Planning for reduced corporation tax rates.
• New calculations for distributing profits as a dividend.
• If self-employed, look at becoming a limited company now.
• Maximising Capital Allowances claims before the reduced allowances take effect.
• Pension Contributions – better to pay now or later?
• Married couples/civil partners – use this tax year’s annual CGT exemption and save tax of £5,656.