A saying brought to us by HMRC in 2010 and still used today as a gentle reminder to file your tax return and look out your cheque book.
This saying was first used to introduce the roll out of the tax simplification system…and each subsequent year a further layer of complexity is added. In the UK, there are over 1,100 different tax reliefs so it is easy to understand why not everyone takes advantage of the tax breaks available to them.
Taking care of the basics can often be overlooked when managing your finances, however, when done correctly, can enhance your overall financial position.
At Glasgow Wealth, we believe in simplicity and by putting the right structure in place at the right time can avoid any expensive shocks later on. While I may struggle to list all 1,100 reliefs available, the main areas we concentrate on are:
- Earned income and company profits
- Pension annual allowance and lifetime allowance
- Drawing down pensions and investments in retirement
- Passing on accumulated wealth
If you would like to review your situation, please get in touch to arrange a free, no obligation appointment.
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