Yes, you did read that right – Happy New (Tax) Year!
The 6 April marked the start of the 2021/22 tax year in the UK and with it, as is often the case, comes change but also an opportunity for planning.
Many individuals and businesses suddenly spring into action and remember that they need to do some tax planning as the year-end nears, to ensure that allowances and reliefs have been used effectively.
However, the truth is that proactive tax planning should be a priority no matter the time of year and, often, the earlier the better.
Now is as good a time as any to get your affairs in order, to discuss your plans for the next 12 months with your adviser and to put in place a tax-efficient strategy that will minimise your liabilities.