With less
than a 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.
For more
information please do not hesitate to contact the team at Ward Williams
Financial Services Ltd on 01932 830664 or by email on wwfs@wardwilliams.co.uk.
http://www.wardwilliamsfs.co.uk/news-and-events/detail.php?article_id=160
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