Money Tips 36 Day 8 - End of Year Tax Planning

Money Tips 36 Day 8 - End of Year Tax Planning

 

If you are listening to this in the UK in the month of March, you only have a few weeks remaining until the end of the current tax year on 5 April. 

 

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Now is the time to think about tax-free allowances into pensions and ISA savings schemes, as well as other tax friendly investments. Other countries vary, but the principles are the same.

 

If you are in business, you should also be talking to your tax or financial advisor about what tax savings you could make before the end of the current tax year.  Don’t rely on your accountant to do this for you as most are not proactive. 

 

New UK ISA allowance announced in the budget

 

This week, the Chancellor, Jeremy Hunt, announced a new £5000 additional tax free allowance for ISA investments provided they are invested into British shares.  This means you can invest the money directly into shares or in a fund which invests in the UK stock market, such as the FTSE 100 index.

 

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Section 24 Tax Hike Solutions Revealed By Property Accountant

Interview with Chartered Accountant and property tax specialist who reveals options and solutions to move your properties from your own name into a limited company or LLP whilst mitigating the potential HMRC pitfalls.

Email charles@charleskelly.net for a free consultation on how to deal with Section 24.

Watch video now: https://youtu.be/aMuGs_ek17s

In this 45 minute interview we discuss:

·        What is Section 24 and when did George Osbourne introduce this tax hike on landlords?

·        6 options available to landlords with buy-to-let properties in their own name

·        What is classed as a property business and property partnership?

·        Ramsay v HMRC (2013) case explained

·        Incorporation Relief, Stamp Duty, CGT (Capital Gains tax) and much more…

Over 29,000 people signed a petition calling on the government to reverse this unfair tax o landlords to no avail. 

Find out what you can do in this video.

Email charles@charleskelly.net for a free consultation on how to deal with Section 24.

 

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