Call 0117 254 1166 - Email info@elitefinancialaccounting.com

Year end tax planning

With one month to the end of the tax year there is still time to save tax for 2015/16.

With one month to the end of the tax year there is still time to save tax for 2015/16. We have set out some points you may want to consider.

  • Review dividend payment timing - with new dividend tax rates and a ¬£5,000 dividend allowance from 6 April 2016, the timing of dividends could make a difference to the tax charge.
  • Consider¬†company car options - going forward for each tax year the taxable percentage increases 2% for each CO2 emission band and the diesel 3% supplement which was expected to be abolished from April 2016 is now to be retained.
  • Review personal pension contributions to ensure annual allowances are being used effectively as from 6 April 2016 the annual allowance may be tapered for those with incomes over ¬£150,000.
  • Defer capital gains by reinvesting in Enterprise Investment Scheme shares.

Please contact us to discuss your personal situation.

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Elite Financial Accounting, 609 Fishponds Road, Fishponds, Bristol, Avon BS16 3AA
Cheltenham Office
Elite Financial Accounting, 111 The Promenade, Cheltenham, Gloucestershire GL50 1NW

No 08659473, 609 Fishponds Road, Bristol, BS16 3AA. Registered in England and Wales