End of Tax Year Insight

The end of the 2009/10 tax year is fast approaching. In this Insight we take the opportunity to remind you of some of the things which you ought perhaps to think about doing if saving tax is a priority, as well as giving you an update on one or two important news items. Some of our action points need to be completed before 6 April, others can be left until the new tax year. But please, if you have any questions or would like to talk through anything in this Insight, please speak with your usual Buzzacott contact without delay.

Key points:
• New top tax rate of 50% (42.5% on dividends) on income over £150,000 from 6 April 2010
• Personal allowances are scaled back from 6 April 2010, when income exceeds £100,000
• Pension premium tax relief restricted if income exceeds £130,000
• Gaines-Cooper case raises questions over “leaving” the UK
• Taking time to pay your tax - and acting sooner to minimise your July payment
• Where there’s a Will...there may be a tax saving

Read the full Insight by downloading the pdf on the right.