Edwards Greene Year End Tax Planning Report 2019/20

INCOME TAX SAVING FOR COUPLES The opportunities to minimise tax from sharing allowances DIRECTORS AND EMPLOYEES How benefits, bonuses and dividends can be used to increase your tax e ciency PENSION TAX PLANNING How to make the most of the tax privileges of your pensions TAX-EFFICIENT INVESTMENTS A look into some of the options for investing tax e ciently Contents This report is for general information only and is not intended to be advice to any specific person. You are recommended to seek competent professional advice before taking or refraining from taking any action on the basis of the contents of this publication. The Financial Conduct Authority does not regulate tax advice. Tax rates may di er in Scotland. The value of your investment can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance. The report represents our understanding of law and HM Revenue & Customs practice. © Copyright 6 December 2019. All rights reserved MAKE THE MOST OF YOUR RELIEFS AND ALLOWANCES Planning this year is more di cult than usual with the cancellation of the November Budget and uncertainty around the general election. So, as the year end approaches it is more important than ever to make the most of the reliefs and allowances available in case they are not there in future. This guide o ers some advice on the core opportunities you should consider. With ideas a ecting income and investment, for couples, company directors and employees, there will be something for everyone. We also provide essential tips for those reviewing their estate plans. The guidance included forms the base of a good financial plan to complete the year. If you would like further advice on any of the topics, or to discuss how they a ect your individual circumstances, please get in touch. Introduction SPECIAL REPORT | December 2019 | Year End Tax Planning 2 CAPITAL GAINS TAX PLANNING Timing is everything for your gains and disposals INHERITANCE TAX AND CHARITABLE GIVING With careful planning you can help reduce your final tax bill iStock/CasarsaGuru iStock/Rudenkoi iStock/Rudenkoi iStock/Rudenkoi iStock/BrianAJackson iStock/bagi1998