Give yourself a break.
Unfortunately, there is no escaping the taxman. It can be quite hard seeing your hard-earned money being deducted by HMRC, especially when you have a family to provide for.
But with careful planning, you can lessen the impact of your dreaded tax bill by taking advantage of some handy tax reliefs.
If you’re planning on selling your house, you should consider your capital gains tax (CGT) allowance; this doesn’t only apply to your home, but to any higher-value assets you may have.
Although taxes seem like a punishment, they don’t have to be. Tax credits can come in handy, especially when paying into a pension. You gain tax credits because the Government wants to incentivise you to make these contributions.
You can make the most out of personal tax planning if you’re self-employed. Directors of companies can pay less tax by staying below the income tax threshold. They do this by topping up wages with dividends which are taxed at a lower rate.
Stop putting more money into the HMRC’s pocket than you need to. Get in touch with our friendly team today. You can rely on us.