Tax Planning Checklist
It is a good idea to periodically review your affairs to see if you are paying the right amount of tax.
Here are a few ideas to get you started.
- Have you looked at your claim for capital allowances for expenditure on business equipment.
- Discuss with your accountant how to minimise the cost of the company car.
- Ensure that tax rates are as low as possible for you and your family.
- Review your pension arrangements.
- Check your PAYE code and understand the tax rates and allowances applicable to you.
- Utilize your ISA allowance and consider other tax saving opportunities.
- Plan to minimise the tax take, including VAT and capital gains tax.
- Put in place a tax efficient gift giving strategy.
- Review your will.
- Contact your accountant to discuss these and other strategies to help minimise your tax liability.
If you would like a booklet with 70 ideas then please get in touch