Now is the time to discuss your tax planning issues with your financial adviser

The run up to the end of the tax year in April, which this year falls mid week and before the Easter break, is always the busiest time of the year for us at Beaufort Asset Management and we want to make sure that all our clients’ tax affairs are in order and that you have made the most of legitimate tax free savings, investments and allowances. Billions of pounds are wasted each year by UK taxpayers who just don’t plan efficiently and we’re here to help you.

The most popular tax free savings vehicle is the ISA. This year the ISA allowance is £15,240 for adults and up to £4,080 for Junior ISAs, for those under 16.Your Beaufort adviser will guide you through the options available to make the most of this. The number of ISA millionaires continues to grow and there is no reason why one should pay into an ISA into retirement. The 6th of April, the first day of the new tax year sees the launch of the Lifetime ISA or LISA. If you’re over 18 and under 40 and need to save for a deposit on your first home this is one for you. Save up to £4,000 a year and the Government throws in an extra £1,000, up to a maximum of £32,000 and until you turn 50. The LISA is a also a useful tax free retirement savings vehicle.

Your Beaufort Asset Management adviser will guide you through all the other ways of mitigating inheritance, corporation and capital gains tax bills and making the most of personal, pension and other allowances, as well investing tax efficiently in a number of EIS and VCT schemes that are currently on offer.

The 8th of March sees Chancellor Hammond’s first and last spring Budget – it is moving to the autumn. We will let you know the meaning of any changes in legislation announced at our annual tax planning seminar on the morning of the 14th of March at the Hilton Hotel, Drake Way, Reading. If you would like to attend, please complete the form on Seminars page on this website.