Hello,
As you know, the tax year-end is 5 April 2011. Now is the best time to review some tax planning opportunities with you. Making plans before the tax year-end may often prevent allowances and reliefs from being wasted!
Pension contributions
If you are not a member of an occupational pension scheme you may contribute up to £3,600 per tax year into a personal pension, regardless of the amount of your earnings. For those with relevant earnings you can contribute up to a maximum of £300,000.
Charitable donations
Charitable donations up to £7,000 per individual qualify for tax relief.
This means you will save tax by giving money to charity.
Covenanted Educational Payments
The tax relief for covenanted educational payments will be abolished with
effect from 6th April 2011. The relief will continue to be available after 6
April 2011 for payments made under covenants that have entered into before 5 April 2011 and where the student is in qualifying fulltime education at that
date.
Tax Planning Clinic worth £195 for Free
As we are nearing the end of the tax year I am offering a limited number of
free tax planning clinics. The aim of the clinic is to identify
opportunities for you to save tax. Please call me on 01624 611108 or email
me on lthompson@thompsons-cas.com to make a booking.
Best wishes
Liam Thompson
lthompson@thompsons-cas.com
