In light on the controversy surrounding the price of petrol, The David Aaron Partnership has publish...
In light on the controversy surrounding the price of petrol, The David Aaron Partnership has published a guide to avoiding what it terms stealth taxes.
The guide, entitled, Avoid Stealth to Create Wealth, identifies the main ways in which the tax take has been increased without being directly apparent.
According to the IFA group, there has been a gradual reduction and now complete removal of mortgage interest (Miras) tax relief, the gradual reduction and subsequent removal of the married couple's allowance for younger couples, and the inability for non-tax payers to recover the 10% tax credit on UK dividends.
The guide also cites the reduction in the level of tax free savings that can be made each year as a form of government stealth taxing. Under Peps and Tessas it was £12,000 and under Isas it is £7,000, reducing to £5,000 on 6 April 2001.
Among other issues, the guide highlights the proposed removal of the facility to carry forward unused relief for personal pension contributions from April 2001. The guide considers 21 practical tax planning opportunities for individuals including, planning for income tax, capital gains tax, and inheritance tax.
Service increasingly key
Aiming to be top three UK financial planner
Lowest measure since index launched in 1995
Complaints into double figures
Despite lower median annual earnings