Tag Archives: income tax

What can I do to save income tax? Things to consider pre 6 April 2020 – Part 4

PART 4 – Reliefs for tax efficient investments Parts 1, 2 and 3 of this series considered the tax savings of pension contributions, charitable donations and what else you can do to ensure your entitlement to the personal allowance of £12,500. The final part of this series looks at a number of investments that qualify…

What can I do to save income tax? Things to consider pre 6 April 2020 – Part 1

pension planning

PART 1 – Pension contributions – have you fully utilised your annual allowance? This allowance is up to a maximum of £40,000 per annum for UK individuals under 75. However, this is tapered down by £1 for every £2 for taxpayers whose income is between £150,000 and £210,000 to a minimum of £10,000. It is…

Year-end Capital Tax planning

Capital gains exemption, inheritance tax

Have you used your 2018/19 £11,700 annual capital gains exemption?  Consider selling shares where the gain is less than £11,700 before 6 April 2019. In addition, if you have any worthless shares, consider a negligible value claim to establish a capital loss. You may even be able to set off that capital loss against your…

4 ways to improve your farming business: 2. Understand tax and capital gains

Getting a better understanding of your tax liabilities is a fundamental tool in improving the financial success of your farm or agricultural business. As we highlighted in our previous blog, it’s vital that you have a clear focus on maintaining positive cash flow and have profitability built into your farm’s business model.  And one of…

4 ways to improve your farming business: 2. Understand tax and capital gains

Getting a better understanding of your tax liabilities is a fundamental tool in improving the financial success of your farm or agricultural business. As we highlighted in our previous blog, it’s vital that you have a clear focus on maintaining positive cash flow and have profitability built into your farm’s business model.  And one of…

4 ways to improve your farming business: 1.Address your profitability and cash flow

When push comes to shove, you want your farm to turn a profit. All the early starts and long working days should translate into a healthy year-end profit – but that will only happen if you’ve got control over your spending, revenues and cash flow. So, how do you address the issue of getting on…

4 ways to improve your farming business: 1.Address your profitability and cash flow

When push comes to shove, you want your farm to turn a profit. All the early starts and long working days should translate into a healthy year-end profit – but that will only happen if you’ve got control over your spending, revenues and cash flow. So, how do you address the issue of getting on…

4 ways to improve your farming business: 1.Address your profitability and cash flow

When push comes to shove, you want your farm to turn a profit. All the early starts and long working days should translate into a healthy year-end profit – but that will only happen if you’ve got control over your spending, revenues and cash flow. So, how do you address the issue of getting on…