In the following four pages, we look at the opportunities in more detail. On this page we look at the ways of reducing taxable income by increasing contributions to pension plans, and also at tax-saving personal equity plans (PEPs), and tax-exempt savings schemes (Tessas). They come round each year, but the annual entitlements are limited, so it may pay to take advantage of the entitlement each year.
On the facing page, we look at ways of reducing liabilities to capital gains tax, and at the tax strategy for that embattled and long-suffering species, the self-employed.
Over the page, we highlight the sort of things that individuals and families should consider at each successive stage in life from childhood to old age, and on the facing page at specialised subjects such as inheritance tax planning, the best strategy for husbands and wives to arrange their affairs to minimise tax liabilities, and the things that drivers of company cars should bear in mind before the calendar moves on to 6 April.
Last but not least, there is a note on what accountants can and cannot do for you, and what they may charge for their services.