1 minute read
AIT
from Business InSolihull
by Solihull BID
It’s not too late to take action now with your planning that will allow you to take advantage of the remaining reliefs, allowances and exemptions. Now is the perfect opportunity to take advantages of these tax planning opportunities for you, your family and your business.
It’s not too late for year end tax planning!
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Areas you should be thinking about:
Making the most out of your ISA – There are a number of ISA’s on the market and you should be making use of the £20k a year with them being free from income tax and capital gains
Review other Tax allowances for your savings as there are so many options out there from allowances as a couple, tax free financial gifts, pension contributions and gift aid. Investment schemes such as Enterprise Investment Scheme (EIS) or Seed Enterprise Investment Scheme (SEIS)
Review your property portfolio
High income Child benefit charge – most people are unaware that any child benefit that is claimed where either parent earns over £50k the government will recover some or all of the monies claimed during this period
Tax efficient Will
Benefits of going green with your Car – there are a number of tax related advantages when using a low emission vehicle for business use
Inheritance tax planning and reliefs
Protecting your Family wealth – how best to pass on assets the most tax efficiently
Exit planning – ready to retire or sell your business in the coming year
These are just a few areas that you should be thinking about, we are here to support you, your family and your business to get the most out of these remaining reliefs, allowances and exemptions. It is important that you take professional advice then undertaking a full review, here at AIT Accountants we can ensure that any changes that we discuss with you are processed and managed effectively.
