INCOME TAX SAVING OPPORTUNITIES Opportunities to minimise tax from sharing allowances DIRECTORS, EMPLOYEES AND THE SELF-EMPLOYED How benefits, bonuses and dividends can be used to increase your tax efficiency PENSIONS PLANNING How to make the most of the tax privileges of your pensions TAX-EFFICIENT INVESTMENTS A look into some of the options for investing tax efficiently Contents This report is for general information only and is not intended to be advice to any specific person. You are recommended to seek competent professional advice before taking or refraining from taking any action on the basis of the contents of this publication. The Financial Conduct Authority does not regulate tax advice, so it is outside the investment protection rules of the Financial Services and Markets Act and the Financial Services Compensation Scheme. Tax rates may differ in Scotland. The value of your investment can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance. The report represents our understanding of law and HM Revenue & Customs practice. © Copyright 5 December 2023. All rights reserved MAKE THE MOST OF YOUR RELIEFS AND ALLOWANCES With the tax burden rising in each of the next five years to a post-war high of 37.7% of GDP it is more important than ever to make the most of the tax allowances and reliefs available to you. This guide provides an insight into the core opportunities you should consider. With ideas covering income and investment, couples, company directors and employees, there is something for everyone. We also provide some essential tips for those wanting to reduce their inheritance tax liability. The guidance included here forms the base of a good financial plan as the old tax year comes to an end and the new one starts. If you would like personalised advice on any of these topics, please get in touch. Introduction SPECIAL REPORT | December 2023 | Year End Financial Planning 2 GET AHEAD ON CAPITAL GAINS TAX PLANNING Timing is everything for your gains and disposals REVIEW YOUR INHERITANCE TAX PLANNING With careful planning you can help reduce your final tax bill Credit: Unitone Vector\shutterstock.com Credit: AlisaRut\shutterstock.com Credit: Unitone Vector\shutterstock.com iStock/Rudenkoi Credit: AlisaRut\shutterstock.com Credit: AlisaRut\shutterstock.com
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