Chartered Accountants of Poynton, Cheshire |
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Keep your income below the age allowance limitThere are many ways to save tax - all of them perfectly legal. For example, if you are over 65, keep your income below the £18,900 limit - at that limit the higher allowances are scaled back. Call us at Appletons Accountants and we'll tell you more! Pay less tax - Create a tax shelter investmentThere are many ways to save tax - all of them perfectly legal. Did you know that.... Tax can be effectively deferred by investment in Enterprise Investment Scheme shares, Venture Capital Trust shares (both subject to limits), or in film finance partnerships? Call us at Appletons Accountants and we'll tell you more! Tax ReturnsIf you submit your tax details to us, we can advise you of your exact tax liability. |
Paying less tax - deductions and deferralsThere are many ways to save tax - all of them perfectly legal. Here's a few to think about... Create a tax shelter investmentTax can be effectively deferred by investment in Enterprise Investment Scheme shares, Venture Capital Trust shares (both subject to limits), or in film finance partnerships. Choose a car with lower emissionsReduce the tax you pay on your company car and on fuel. Keep your income below the age allowance limitIf you are over 65, are you able to keep your income below the £18,900 limit at which the higher allowances are scaled back? Defer gainsRealise gains after the end of the tax year, and delay payment of the tax for 12 months. Split sales across the end of the tax year – make use of two years’ annual exemption. Make an outright gift to your spouse, who can make use of his or her exemption, too. Delaying a sale can also mean more taper relief – so less tax. Save employers’ NICEmployee costs may be high, but save employers’ national insurance contributions by rewarding employees through all employee share schemes and pension contributions instead of additional salary or bonuses. Ensure business borrowings attract tax reliefFunds borrowed for business purposes obtain full tax relief; your mortgage does not! Appletons can help you to identify ways to make the most of tax-saving opportunities and investments. We are always pleased to discuss matters with you – contact us today for further information. Family Tax Planning With the high cost of university and college education, encouraging children to start saving early can help them in later years. Parents and grandparents may want to give some money to their children or grandchildren for the future. There are several tax-efficient ways to do this and you will need to bear these points in mind... more...
Divorce and taxationSince both parties are taxed separately under self-assessment, income tax does not usually cause the same problems as CGT. Any earned income, e.g., from a job, will remain taxed on the spouse that earns it.... more...
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