Making the most of income tax savings

With the end of the 2011/2012 tax year rapidly approaching, it is worth individuals considering opportunities available to reduce their income tax liability and make the most of available tax allowances through investments. Income tax As we are all very much aware, income tax is something we all need to bear. Individuals under the age of 65 currently benefit from a personal allowance of £7,475 with income tax then payable on earnings depending on varying bands. For 2012/13 the personal allowance will increase to £8,105 although the basic rate limit will reduce to £34,370 which resul...