Tuesday, January 10, 2006

7 Ways to Beat the Taxman

1 Rent out a Room. You have a tax free allowance of £4 250 per year.

2 ISAs. Invest up to £7 000 per year and your gains are tax free.

3 Use your husband/wife or
civil partner. Divide your assets (shares/property) into both names. Each person has a tax free allowance of £8 500 for Capita gains Tax

4 Invest in Forestry or Classic Cars! There is no Capital Gains Tax

5 Make a will. Die without a will (intestate) & 40% can go to the taxman.

6 Use Tax Credits. Billions of tax credits are unclaimed each year.
More details Tel: 0845 300 3900 or

7 Free money from Pensions. Some employers match your contributions, then the tax man tops it up eg £1000 + employer’s contribition=£2 000+tax=£2 564

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