|
PERSONAL TAX
Establish all the allowances and relief's available to you
and take full advantage of them.
 |
As the date of a transaction
could affect when and how much tax is due and payable,
plan carefully the date on which a transaction or event
takes place. By identifying those actions which will increase
the amount of tax that is payable, you may be able to
arrange the timing of events, which could result in a
reduction in the marginal rate of tax payable. |
|
Rental income from letting furnished accommodation
in your home could attract Rent-a-Room Relief. Gross annual
rents below £4,250 are tax-free. |
|
If you are a non-taxpayer
(for example a pensioner, child or dependent married woman),
get the special form so you can receive your bank and
building society interest gross - without tax deduction.
|
CONCLUSION
We must stress that you should always seek proper and professional
advice before you take advantage of these tax saving measures.
Each persons tax position is unique and acting without proper
advice in this respect could result in an increased tax liability.
Should you require any assistance in planning your tax affairs,
please contact us at Berkeley Townsend.
|
