With one month to the end of the tax year there is still time to save tax for 2015/16. We have set out some points you may want to consider.
- Review dividend payment timing - with new dividend tax rates and a £5,000 dividend allowance from 6 April 2016, the timing of dividends could make a difference to the tax charge.
- Consider company car options - going forward for each tax year the taxable percentage increases 2% for each CO2 emission band and the diesel 3% supplement which was expected to be abolished from April 2016 is now to be retained.
- Review personal pension contributions to ensure annual allowances are being used effectively as from 6 April 2016 the annual allowance may be tapered for those with incomes over £150,000.
- Defer capital gains by reinvesting in Enterprise Investment Scheme shares.
Please contact us to discuss your personal situation.
Accounts and Independent Examination Package
New legislation means that Charities with income not exceeding £1M generally do not require an audit. We provide high quality accounts for presentation to funders, etc., with a full Independent Examination.
How we can help
If your charity is in London or the surrounding areas we can help you. Contact us at Edward Amber to find out more.