As we are approaching the end of the tax year, you need to act now if you want to reduce your tax liability.
This booklet seeks to identify the main means by which you can reduce your tax liability before the end
of the current tax year.
In section 6 we have also included a summary of changes due to take effect in 2017/18 which have already been announced:
- Domicile – changes to taxation of non-domiciles from 6 April 2017
- Statutory Residence Test
- Tax allowances, thresholds and rates of tax
- National Insurance Contributions (NIC)
- Stamp Duty Land Tax (SDLT) for residential properties
- Residential Lettings
- Non resident individuals disposing of UK residential property
- New annual tax allowances for individuals of £1,000 – trading and property income
- Foreign pensions.