Mediaboss Marketing

6 March 2012 1:25 pm

Technical Connection sets out a game plan for tax-saving opportunities as the end of the tax year looms.

The run-up to the end of the tax year is a good time to consider tax planning to maximise the use of an individuals allowances, reliefs and exemptions for the current tax year (many of which will be lost if not used before the year end) and to put in place planning strategies that will minimise tax paid in 2012/13.

In this article all references to married couples include registered civil partners. (article continues below)

The following are what we believe are important to take account of in determining fundamental income tax planning strategies:

Keeping the above key factors firmly in mind, the following tax planning opportunities exist for most people regardless of their tax position.

Maximising the use of a couples allowances, exemptions and lower tax rates

For married couples, important income-tax-saving possibilities exist. Most of these need a full tax year to operate to give maximum effect so these suggestions may serve more of a remin-der for planning for the com-ing tax year than as a means of saving tax this tax year.

Go here to read the rest:
Special report: End of tax year planning