With Spring now in the air, it can mean only one thing – we’re approaching the end of another tax year. And whilst not all tax planning is time sensitive, now is a great time to take stock and reflect on your tax affairs. W hether it’s checking if you’re making the most of allowances available for the current tax year, or understanding how the changes announced in the Autumn Budget adversely affected your tax position – there’s plenty that’s important to consider before the 5 April rolls around once again. For anyone looking to leave the UK, on a temporary or permanent basis, David Collins, our expert in overseas and non-dom taxes takes a look at the tax benefits of holding your investments in an offshore bond. And, looking ahead, there are significant changes on the horizon with Making Tax
Digital. Kate Cowell explores what the changes mean, who will be affected and what steps you should take now to make sure your tax affairs and records are in order for a smooth transition. As always, everyone’s circumstances are different so it’s important to take advice that’s bespoke to you. And as our team have expertise across a wide range of topics we’re here to support both your personal and business finances now and in the future.
So, we’re delving into some of these topics in this Spring edition of our newsletter.
Simon Hurren explores whether trusts can save you inheritance tax. And with many family businesses facing changes to inheritance taxes this could help. There’s a detailed breakdown of the different elements of tax planning to consider before the end of the tax year. Perhaps an increase in your income will make pension contributions more important this year.
I hope you enjoy reading this latest issue.
Here’s to longer days and warmer weather ahead!
PRIVATE CLIENT | SCRUTTON BLAND | 3
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