Lopian Gross Barnett - 2020-21 Tax Year-End Planning
As the 2020/21 fiscal year draws to a close, there are opportunities for individuals to maximise available allowances and exemptions before they are lost.Whilst there are planning opportunities every year, this year may be different because it is anticipated that the Chancellor mayincrease tax rates and it is possible that changes will be made as soon as 3rd March 2021 which is the date of the Spring Budget.
In particular, it is being speculated that changes could be made to Capital Gains Tax in the Budget. However, the Chancellor maybe minded to delay any increases until the economy begins to recover following the pandemic. We have enclosed practical tax planning ideas for your consideration. Please click the link below to view this.