Tax year-end: How can advisers encourage earlier tax planning?

Translating the benefits of earlier action could pay dividends...

clock • 4 min read

The TYE is neigh. Here Jonny Black urges advisers to take the opportunity to review clients' planning behaviour, and where possible, recommend improvements...

It may be human nature, but putting off tasks until just before a deadline can cause an administrative headache for advisers when it manifests itself at tax year-end (TYE) when clients are rushing to finalise their tax planning. In some cases, there's little clients can do to avoid having to rush. Those who are self-employed may need to wait until the very end of the tax year to fully understand their earnings. Similarly, those who receive bonuses often won't have them paid until March, meaning they simply can't take action until there are only a few days of the tax year left. But ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Tax planning

Minimising clients' IHT liabilities: Where there's a will there's a way

Minimising clients' IHT liabilities: Where there's a will there's a way

There are ways to mitigate an anticipated inheritance tax bill

Richard Burgess
clock 08 April 2024 • 4 min read
HMRC warns about taking benefits until it fixes LTA abolition rules

HMRC warns about taking benefits until it fixes LTA abolition rules

Request came just two days before the LTA abolishment date

Jonathan Stapleton
clock 05 April 2024 • 1 min read
Child benefit changes extend tax trap to more parents

Child benefit changes extend tax trap to more parents

'We know that lots of parents are bamboozled by the system'

Laura Suter
clock 04 April 2024 • 3 min read