Guide to 2016/17 Year End Tax Planning

Jan 25, 2017 | Tax

Inside this Issue

Our 2016/17 Year End Tax Planning guide highlights some of the key tax planning opportunities for all stages and facets of life.

We provide suggestions for further consideration and discussion, enabling you to arrange your taxes, investments and wider financial affairs to reduce current and future tax liabilities. Please keep in mind that everyone’s tax situation is different. Before implementing any of the strategies discussed here, you should obtain professional advice.

Effective tax planning is about knowing the taxes you are liable to pay and acting to legally minimise them. It is also about maximising your net income and creating opportunities to invest and save tax-efficiently.

While there is no doubt that the tax system is complex, you should not let complexity deter you from a simple goal: keeping your taxes as low as possible. In our Guide to 2016/17 Year End Tax Planning, we have provided some of the key areas you should consider if applicable to your particular situation.

If a self-employed person or family company employs a spouse to assist in the running of the business, the spouse could be remunerated fairly to utilise the tax-free Personal Allowance

  • Personal Allowance
  • Personal Allowance For High Earners
  • Spouse Remuneration
  • Minor Children And Teenagers
  • Individuals With No Taxable Income
  • Tax-relievable Pension Contributions
  • Tax-relievable Pension For High Earners
  • Pension Lifetime Allowance
  • Tax-favourable Investments
  • Timing Of Income
  • Company Dividends
  • Capital Gains Tax
  • Inheritance Tax
  • Review Your Will

Want To Explore The Options Available To You?

We all have to pay our taxes, but within the legal framework there are numerous ways of saving tax and making sure you do not pay more than is absolutely necessary. If you would like to explore the options available to you in preparation for the 2016/17 year end, please contact us sooner rather than later.

Call us or use the contact form by clicking here.

INFORMATION IS BASED ON OUR CURRENT UNDERSTANDING OF TAXATION LEGISLATION AND REGULATIONS. ANY LEVELS AND BASES OF, AND RELIEFS FROM, TAXATION ARE SUBJECT TO CHANGE.*

THE VALUE OF INVESTMENTS AND INCOME FROM THEM MAY GO DOWN. YOU MAY NOT GET BACK THE ORIGINAL AMOUNT INVESTED.*

PAST PERFORMANCE IS NOT A RELIABLE INDICATOR OF FUTURE PERFORMANCE.

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