New Tax Year 2011

Too often people leave their tax planning to 4th April, which limits their options for keeping hard-earned cash out of the taxman’s clutches. Instead, make this new tax year the year you take control and plan ahead to make sure you make the right choices.

Sensible plans

Each tax year, there are a number of issues worth fresh consideration:

1) Use your allowances

You get a tax-free allowance for both income and capital gains. How can you use these as efficiently as possible?

2) Maximise your pension contributions

The latest regulations mean you can now get tax relief on pensions contributions of up to 100% of your salary each year (subject to annual and lifetime limits). How can you maximise your contributions – and select the right pension or investments – to build towards that secure retirement?

3) Consider tax advantageous investments

You also get an annual ISA allowance to help shelter your investments from further income and capital gains tax. Investment is also flexible, allowing access to a range of options – from the secure building society accounts right through to higher risk equity options. Could early consideration of the options help you make more of this year’s opportunity?

4) Plan your inheritance

Following the Government’s announcement back in 2007, the IHT allowances have increased for married couples and civil partners. Is it time to take a closer look at the value of your estate?

Further information
At Loughtons, we have the experience – and the research capabilities – to make sure you make the most of all the tax planning opportunities available to you.

The tax year end comes round all too soon so if you would like help, please give us a call on xx now. It could save you a great deal.

If you wish to make a positive difference to your finances, please feel to call us on 01626 833225 to find out more.

Loughtons Independent Financial Advisers is a trading name of JPRS (South West) Limited. JPRS (South West) Limited is authorised & regulated by the Financial Services Authority.

© Loughtons Independent Financial Advisers

Note: The Financial Services Authority does not regulate tax advice