Tax – Proposito Financial Planning

31st March 2021

The Budget 2021 – A Summary

The Budget saw a raft of announcements affecting people and businesses alike, but it was what the Chancellor didn’t do rather than what he did do which is likely to have the biggest impact on individuals. Below we have summarised the key points

12th February 2021

End of tax year planning – five ways to save tax

The end of the financial year is usually 5th April (click HERE to find out why it’s earlier in 2021) so now is a great time to look at your finances and make the best use of your tax allowances. There are a number of steps you could take,

12th February 2021

The clock is ticking for the end of the tax year 2021

This tax year effectively ends on the 1st April 2021. No, this is not an April fool’s joke but the result of a “perfect storm” of dates, days and bank holidays. Maundy Thursday falls on 1st April 2021, which means that Good Friday is 2nd April 2021 – a bank

28th October 2016

Autumn Statement Preview

AUTUMN STATEMENT PREVIEW Chancellor considering dropping the Autumn Statement – but not this year. The FT has this week reported that the UK chancellor is considering ditching the annual Autumn Statement, as he seeks to rein back the role of the Treasury and focus its tax and spending decisions on

5th July 2016

Dividends and Discretionary Trusts

Following the changes in dividend taxation that apply to individuals for 2016/17, changes have also had to be made to the taxation of dividends and discretionary trusts. In basic terms, this means that because dividends are paid gross, dividends that fall within the trustee’s standard rate band will be taxed

23rd May 2016

Tax Free Income

Stephen doesn’t exist. But if he did this would be his story of how we helped him achieve a tax free income of £35,000 per annum.. When we first met Stephen everything was great. Having just turned 55 he was looking forward to his final 10 years working for

16th May 2016

Directors will pay

The Treasury expects to collect £2.6 billion in extra tax because business owners have accelerated dividend payments to avoid a looming tax hike, says the Financial Times. The tax rate on dividends in excess of £5,000 a year rose by 7.5% on April 6th 2016, and many company owners

17th March 2016

Budget 2016 Overview

Introduction It was famously said that ‘all roads lead to Rome.’ In British politics, all speeches currently lead to the EU Referendum. George Osborne’s Budget speech, delivered on Wednesday March 16th, was no exception. More than ever, the Chancellor was seeking to balance politics and economics as he rose to

10th May 2015

UK General Election – The Results

When the polls opened at 7am on Thursday 7th May, the pundits and the pollsters were as one: the only certainty was a hung parliament. It was the most difficult-to-predict election for generations. The opinion polls had the parties running neck and neck, but the Conservatives led slightly in

18th March 2015

Budget Summary 2015: The Election Budget

Introduction and Political Background As the Chancellor stood up to speak on Wednesday March 18th there were less than 50 days to go until the General Election on May 7th. The opinion polls – and the bookmakers – still had the Conservatives marginally ahead, with David Cameron expected to remain

17th October 2014

Important pension notice: 55% ‘death tax’ abolished

Ahead of the major pension changes already announced for April 2015, the Chancellor, George Osborne, announced another shift in pension policy that could have a big impact on many savers and their financial planning requirements. Speaking at the Conservative Party’s Annual Conference, Mr Osborne announced the abolition of a

28th February 2014

Five great reasons to pay into a pension this tax year

We all know that saving for retirement is important. But it’s also difficult. Spend it today and it’s not possible to spend it tomorrow. The government knows that it’s both difficult and important. That’s why they give away free money and reduce tax bills for those that do save for their retirement.

31st January 2014

My goldfish died – the best tax excuses

During my time as a teacher I heard a few excuses – some of them fantastic – about why homework wasn’t handed in on time. My favourite was the boy who handed in a blank maths exercise book. When I asked him where his homework was, he said he

14th January 2014

Tax returns – right time, wrong place

I may be getting older, slower and greyer but there is at least one thing I am getting better at, and that is filing my self-assessment tax return. Three years ago I wrote a blog proclaiming my new resolution was to file my tax return sooner than 7 days before the deadline!

27th March 2013

It’s ISA advert season

The arrival of spring weather can be difficult to predict. Last year, we enjoyed a balmy March and as soon as the hosepipe ban was announced in April, it rained until Christmas. This year was going according to plan with temperatures steadily rising until we were struck by an

Latest news

The Budget 2021 – A Summary

End of tax year planning – five ways to save tax

The clock is ticking for the end of the tax year 2021

Autumn Statement Preview

Dividends and Discretionary Trusts

Tax Free Income

Directors will pay

Budget 2016 Overview

UK General Election – The Results

Budget Summary 2015: The Election Budget

Important pension notice: 55% ‘death tax’ abolished

Five great reasons to pay into a pension this tax year

My goldfish died – the best tax excuses

Tax returns – right time, wrong place

It’s ISA advert season