It's the end of the tax year, and time to make a resolution to give the Revenue less

Article Abstract:

There are a number of straightforward ways in which UK taxpayers can reduce the amount they pay to the Inland Revenue. It is worth considering, whether investments and deposit accounts can be held in the name of someone who earns nothing at all, or very little, thus ensuring that the interest is received free of tax. It is also important to consider the position of share options, possibly exercising some before the end of the tax year and realising the gains in the current tax year rather than the next. There are now many different tax-free investments which are worth investigating.

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How to reclaim overpaid tax from the Revenue if you are on a low income

Article Abstract:

There are a number of ways in which the unemployed and the elderly can ensure that they do not pay more tax than necessary. It is important to be aware that everybody receives a personal tax allowance, and that this is higher for older people than for younger people. The elderly should add up all their income, including investment income, and then deduct the personal allowance. Tax will be charged at 20% on the first 4,100 pounds sterling of what remains, and then at 23%. The first stage in making a claim for repayment of overpaid tax is to contact the local tax office.

Column, Tax refunds

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Make this a Very Happy New Tax Year

Article Abstract:

Advice on tax planning is presented. It is important to ensure that you claim any allowances to which you are entitled and that your savings are as tax-efficient as possible.

Personal Tax Planning, Management, Personal finance

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