Saturday 27th February 2021

Top Tips

Top ten ways to save on tax

31st October – Self-assessment tax return deadline for paper returns for the end of the year ended 5 April.

31st January – Self-assessment tax return deadline for electronic returns for the end of the year ended 5 April.

The 31st October cut off for submitting your paper tax return is looming! How time flies, eh? But if your heart is sinking at the thought of it, we reckon these top ten tips might just cheer you up. There are plenty of ways to take the sting out of things; you just need a good accountant who’s in the know.

  1. Check your tax code
  2. Pay into a pension scheme
  3. Meet the tax return deadline
  4. Maximise your personal savings allowance
  5. Make the most of your Isa allowance

  1. Switch to a low-emission car
  2. Make use of your dividend allowance
  3. Transfer assets to your spouse
  4. Make a charitable donation
  5. Benefit from the marriage transfer allowance if your income is low (and you are married!)

If you’d like to find out more about how to take advantage of these tips, call us on 01908 774320

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