Make good use of this breathing space

Article Abstract:

Investors should put their affairs in order after the United Kingdom Mar 1998 Budget, and prepare for possible tougher changes in 1999. These include possible alterations to inheritance tax, and gifts can be used to reduce the size of an estate. Assets can be divided between husbands and wives so that each can use their allowance. Tax relief for contributions to personal pensions could be altered, with the loss of full relief for higher-rate taxpayers, so they can make increased contributions before 1999.

Safeguard assets for future generations

Article Abstract:

UK Investors should plan their financial affairs so that any money they leave to relatives benefits them rather than the tax authorities. One method of doing this is to set up a trust. They can also make gifts to children and these are free of tax if the donor survives for seven years after making the gift. Assets used for business purposes are not subject to inheritance tax. Investors can purchase shares quoted on the Alternative Investment Market which qualify for relief of inheritance tax.

Tax - ways to be top of the form

Article Abstract:

United Kingdom taxpayers should send in their tax forms before Sep 30 each year if they wish the tax authorities to calculate their tax. Taxpayers should ensure that they have the relevant pages, and then should amass the documentation needed to complete the form. This may include dividend vouchers and bank account statements. The tax authorities will not alert taxpayers who do not claim all the reliefs that they are entitled to, so care should be taken to claim for these.

Taxation, Tax assessment