February 2012
Taxation
The current tax year ends on 5th April so please ensure you are not paying a penny more in taxation than necessary!!!
We are using this bulletin to highlight certain areas of personal finance that warrant particular consideration… if you are going to take full advantage of any tax saving opportunities.
As an example, the Chancellor is now considering the removal of Higher Rate Tax Relief on pension contributions, as a part of a wider political strategy for targeting high wage earners. Currently, in certain circumstances tax relief of up to 50% can be obtained on contributions. Please check with us if this is could be appropriate to you.
We also suggest you consider the following:-
- Have you used your ISA allowance for the current tax year?
- Could you transfer income to your partner to minimise higher and additional rate taxation next year?
- Have you utilised your annual inheritance tax allowances?
- Have you considered a gift to children or grand children, making use of the Junior ISA?
- Business owners and self employed should also review their tax positions now, as it seems probable that Government will continue to examine many different ways to maximise revenue.
Do please contact us if you would like to discuss your tax situation.
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Our Clients
We have been delighted to have Miriam Margolyes as a client for many years and you will no doubt have seen her on your television screens on many occasions, or perhaps remember her spellbinding performance as Professor Sprout in the Harry Potter films.
Miriam is a passionate admirer of Dickens (she presented Dickens America for the BBC) and will shortly be on tour throughout the UK with her one woman show 'Dickens' Women' . She has also teamed up with Sonia Fraser to write a fascinating new book on the subject, which is available at Amazon via the following link: click here to visit the book on Amazon.co.uk
Given that 2012 is the 200th anniversary of his birth, there is certain to be a huge surge of interest in all things Dickens !!!
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