As we approach the end of another personal tax year (5 April 2020), there are a number of tax planning opportunities for individuals to consider to ensure best use is made of currently available allowances, exemptions and favourable tax rates:
- A Brief Guide to tax Year End Planning
With the 2020 Budget also just around the corner (11 March 2020), you may wish to bring planning transactions forward to hedge against any possible adverse changes that could be introduced wef from Budget day. As always, this is highly speculative, but the current rumour mill (official leaks ??) is predicting changes to pension contribution tax relief and capital gains tax entrepreneurs relief.
As with all tax planning, please seek our professional advice first if you would like to understand these opportunities better, and how you personally may be able to take advantage of them.