The end of the financial year is fast approaching (5 April 2012) and you may wish to review your personal tax affairs, in particular you may wish to review whether or not you have used your:-
o – Capital gains tax annual exemption for 2011/12
o – Annual Inheritance Tax exemption for gifts
o – Annual Individual Savings Account (ISA) investment limit.
In addition, the Annual Investment Allowance is decreasing from £100,000 to £25,000 from the 6 April 2012, thus if you are planning on buying plant and machinery in the near future; significant tax savings can be gained on purchases made prior to 6 April.
You may also wish to make additional pension contributions by the above date.