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Welcome to the Towry blog. We provide truly impartial wealth advice that is in the best interest of our clients. We have an Advice Policy team who offer specialist expertise to support our advisers and an Investment Management team whose sole responsibility is to manage our clients’ investments. You can read the thoughts of some of our experts in our blog or contact us for more information.
John Richardson
Head of Advice Policy
06 February 2012
The Year End Tax Planning Challenge
The approach of the tax year end is an ideal time to review tax situations and lifetime financial plans. So, what should you be thinking about at this time of year? Individual Savings Accounts (ISA) The current annual subscription limit of £10,680 p.a. into a stocks and shares ISA doesn’t sound that much but with regular savings this can build to a sizeable savings pot. Make arrangements to use the £11,280 2012/13 allowance as early as possible in the new tax year – to maximise the benefits throughout the tax year. Investments for children/grandchildren National Savings Children’s Bonus Bonds are still available for children under age 16. The limit is £3,000 for each child, currently 2.5% AER compound guaranteed over the first 5 years, then a fixed rate notified at each 5th anniversary to age 21 and a final bonus on the 21st birthday; they are tax-free even if the funds are provided by the child’s parents. Capital Gains Tax – utilising the annual exempt amount Make full us
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The information on this website is not intended to be, and should not be construed as investment advice. Whilst considerable care has been taken to ensure the information contained within the commentaries and articles is accurate and up-to-date, no warranty is given as to the accuracy or completeness of any information and no liability is accepted for any errors or omissions in such information or any action taken on the basis of this information. The opinions expressed are made in good faith, but are subject to change without notice.