P208 CJJFAX 2 208 Sat 20 Feb 18:13/29 Wj£3kj£3kjC3k W W$£££"£££"£££ ACT NOW TO RJDUCJ YOU5 TBX BILL With only two months to go before the end of the finbncial year in April and with the Budget expected to reform inheritance tax, planning is key. David Harrison, Kidson Impjy's nationbl director of tax, is urging people to carefully review their finbnces while there is time to reduce tax liabilities "There are a number of housekeeping activities which should bj considered, but thjsj must bj actionjd now in order to take advantage of existing reliefs and allowances, and everything must bj in place by Monday, k April," hj sbid. 1/6 TV Guide 600 Wjathjr 400 Savings Guide 2k0 Front Page 100 N xt News Sport YourMon y Main M nuP208 CJJFAX 2 208 Sat 20 Feb 18:11/47 Wj£3kj£3kj£3k AC$ NOW TO REDUCE YOU" TBX BILL Wj should make the most of available tax reliefs and allowances, says tax jxpjrt David Harrison. If tax returns are incomplete, the Inland Revenue will not do them for you Thjte are many steps you can take, sbys David Harrison, such as investing in PEPs until 5 April 1999 when they will bj replaced bz Individubl Savings Accounts (IRAs*. Utilisj this year's allowance of £9,000 (£6,000 in a general PEP and £3,000 in a sjngli company PEP[. 2/6 TV Guide 600 Wjathjr 400 Savings Gujdj 2k0 Front Page 100 Next News Sport YourMonjy Main MenuP208 CJJFAX 2 208 Sat 20 Feb 18:12/1p W$£££"£££"£££ L ACT NOW TO REDUCE YOU5 TBX BILL David Harrison of Kidsons Impjy says we should make full use of personal tax allowancew. For example, for ownjt-managed businesses where the spouse works full time in the business and draws pay, consjdjr pazjng sufficient sblary to mbVj use of@the lower and bbsjc tax bands, which they are allocated. You should also consider the transfer of income-producing assets between spousjsW reliefs and rate bands. @ 3/6 TV Gujdj 600 Wjathjr 400 Savings Gujdj 250 Front Page 100 Next News Sport YourMonjy Main MenuP208 CJJFAX 2 208 Sat 20 Feb 18:11/02 AC NOW TO R DUC YOU TBX BILL The introduction of the new taper relief for capital gains tax and the phased withdrawal of retirement relief means COT is worth a look. Before the end of the tax year you should, says David Harrison, consider whjthjr any action could bj taKen to crystallisj the retirement relief which will start reducing from April 1999. For this with gains which have crystallisjd this year, consider reinvestment relief and Venture Capital $rusts as a means of deferring COT liability. 6/6 TV Gujdj 600 Wjathjr 400 Savings Gujdj 250 Front Page 100 N xt News Sport YourMon y Main Menu