1. www.capital.co.uk
URGENT: ARE YOU
CLAIMING ALL THE TAX
BREAKS DUE TO YOU?

2. www.capital.co.uk
URGENT: ARE YOU
CLAIMING ALL THE TAX
BREAKS DUE TO YOU?
If you have 10 or fewer years left before
you retire, you will need to get extra savvy
when it comes to slashing your tax bill.

3. www.capital.co.uk
From April 2014, the amount you can
accumulate in an approved pension
scheme during your working life will
be cut from £1.5m to £1.25m. Save
any more and you’ll pay 55% tax
on that at retirement, at age 75,
or upon death.

4. www.capital.co.uk
The amount you can save
each year, and still qualify for
tax relief, will also fall from
£50,000 to £40,000 and that
includes any contributions
from your employer.

5. www.capital.co.uk
The amount you can save
each year, and still qualify for
tax relief, will also fall from
£50,000 to £40,000 and that
includes any contributions
from your employer.
So what are your tax options?

6. www.capital.co.uk
TAX OPTIONS: YOUR
TAX BREAK CHECK LIST

7. www.capital.co.uk
Keep up your ISA
You can invest up to £11,520 per tax year in an ISA,
including £5,760 in cash.
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8. www.capital.co.uk
Keep up your ISA
You can invest up to £11,520 per tax year in an ISA,
including £5,760 in cash.
If you are not using your full allowance, do so now.
1

9. www.capital.co.uk
Make the most of your marital rights
If you are married or have a partner, ensure you use
their full ISA allowance too.
2

10. www.capital.co.uk
Make the most of your marital rights
If you are married or have a partner, ensure you use
their full ISA allowance too.
You can also invest in a pension on behalf of your
spouse or partner, even if they are not working or
paying into their own pension scheme.
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11. www.capital.co.uk
Make the most of your marital rights
If you are married or have a partner, ensure you use
their full ISA allowance too.
You can also invest in a pension on behalf of your
spouse or partner, even if they are not working or
paying into their own pension scheme.
You can even save into a pension for your children
or grandchildren and receive tax relief on the
contributions.
2

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Get risky
Before embarking on any extra stock
market linked investments, seek the
advice of your IFA or financial planner.
3

13. www.capital.co.uk
Venture Capital Trusts (VCTs) invest in small
start-up companies, where you can benefit from
30% income tax relief, effectively saving you £30
for every £100 invested. However, these small
companies aren’t listed on the London Stock
Exchange so there is a higher level of risk involved.

14. www.capital.co.uk
The Enterprise Investment Scheme (EIS) also
invests in similarly small, start-up style companies,
so they are also high risk. The tax relief on an
initial investment into an EIS is also 30%.

15. www.capital.co.uk
There are also valuable capital gains tax
advantages as well as Inheritance Tax savings.

16. www.capital.co.uk
Seek expert advice
Seeking financial advice from an independent
financial planner will help you decide what
tweaks you will need to make to maximise
any tax-free returns you do have.
4

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Remember there are
other taxes you may
need to mitigate against,
including capital gains
tax, inheritance tax and
stamp duty.

18. www.capital.co.uk
Limits change every year
and HMRC is always
making tweaks to tax
legislation, so make sure
you seek expert advice
on your tax options.
Appendix:
VCTs: http://www.hmrc.gov.uk/statistics/vct.htm
EIS http://www.hmrc.gov.uk/eis/index.htm
Pensions and tax: http://www.hmrc.gov.uk/pensionschemes/tax-basics.htm
ISAs: http://www.hmrc.gov.uk/isa/index.htm

19. www.capital.co.uk
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© Capital Asset Management 2013