Spring is sprung

IT IS THAT time of year again …  tax returns done quiet period before the new tax year time therefore to do client year end planning reviews. The aim of these reviews is to ensure that clients are paying the correct tax by using all allowances due to them and where possible taking advantage of legitimate tax saving schemes. The problem with the latter is that usually the client has to spend to save and it may not be easy or even desirable to persuade a client to do this.
IFA Promotion has for 14 years commissioned its TaxAction annual survey showing how much tax is unnecessarily wasted. The 2006 survey claims that 82% of UK adults 'will waste an unnecessary £7.6 billion in tax in 2006' and that 78% will do nothing to reduce the amount of tax they pay. These figures make...