PRE-YEAR-END TAX PLANNING
TAX-SAVING ACTIONS TO TAKE BEFORE THE DEADLINE
TAX-SAVING ACTIONS TO TAKE BEFORE THE DEADLINE
Welcome to the March/April 2024 edition of Smart Money.
As we approach the end of the current tax year on 5 April 2024, it’s an opportune moment to examine both your personal and business finances to ensure they are structured to optimise your tax efficiency. Despite the ongoing freeze on many tax rates and thresholds, numerous strategies remain for efficiently organising your financial matters. Read the full article on page 08.
Investment scams are a rising concern, promising potential investors the allure of making a significant amount of money swiftly and effortlessly. These scams often involve minimal to no risk investments in various areas such as financial markets, property, cryptocurrencies, and precious metals and coins.
On page 12, we see how these schemes often masquerade as legitimate investments.
Once a concern only for the very affluent, Inheritance Tax (IHT) is now an issue for many ordinary families, who may find themselves handing over an unprecedented portion of their estates to the taxman, The Office For budget Responsibility anticipates that IHT will bring in £7.2 billion in the fiscal year 2023/24. Read the article on page 06.
On page 05, we consider the ever-evolving landscape of investment and why it might appear daunting. Market conditions are like shifting sands, unpredictable and often beyond control. They can be impacted by many factors, such as political events, economic indicators, corporate earnings reports and even natural disasters.
