Holden Associates – Accountants & Business Advisers Blog

How many of you leave it to the last minute to ensure you are investing tax efficiently, I thought so, but why?

I therefore want to (yet again) remind everyone, don’t leave it until 5 April 2009 and then panic about missing the boat, look at your investment strategy now.

Ask yourself, have you got an ISA (Individual Savings Account), an ISA is a tax-efficient ‘wrapper’ in which you can hold either stock market based investments (e.g. shares) or savings accounts. You can invest up to £7,200, including cash up to a maximum of £3,600.

Pensions, have you made any payments into yours? With a pension for every £80 you pay in the Government adds another £20 (based on basic tax rates for 2008/2009).

Even with no earnings under stakeholder rules you can contribute to a stakeholder pension, that is £3,600 you can invest!

Don’t leave it until the last minute, contact your Financial Adviser and ask for a wealth check on your investments today.

Remember on our Free Tax Tips page we have already outlined 10 basic tax saving ideas.

Others things to look at are ensuring you have used all your personal allowances and those of your spouse, remember you both get £6,035 before tax don’t waste it.

Have you got tax you want to mitigate, then what about Enterprise Investment Schemes (EIS) or Venture Capital Trusts (VCT)?

Have you got any Capital Gains, in the tax year to 5 April 2009 everyone has an allowance of £9,600 TAX FREE have you used yours? I know not as easy with the state of the stock markets.

There is so much you can do, but do you? Talk to your accountant today and save some of your money.