Now you have filed your April 2015 Return (50% will have been filed in January 2016) you only have 2 months left to take action to save tax on your April 2016 tax return.
What should you be doing right now to save tax?
Contribute to your Pension
Transitional rules, for 2015/16 only, mean that there’s an annual allowance of £80,000, although only £40,000 of this can be used between 9 July 2015 and 5 April 2016. You may also have unused annual allowances from the three previous tax years.
These Transitional rules are to align PIP’s (Pension Input Periods) with the Tax Year.
Pensions have huge tax saving advantages
Optimise your 2015/16 Salary
You can’t carry forward any unused personal allowances so generally the optimum salary will be £10,600
Take Dividends now
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