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

  • 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

Canada Life links with Zedra to launch trust service

Canada Life links with Zedra to launch trust service

Service to ‘relieve the onerous requirements for advisers’

Jenna Brown
clock 23 May 2023 • 1 min read
Discounting the discount: Discounted gift trusts explained

Discounting the discount: Discounted gift trusts explained

Trusts help planners reduce or eliminate their clients' IHT liabilites

Barrie Dawson
clock 23 May 2023 • 4 min read
Rising IHT receipts should be 'wake-up call' to take tax advice

Rising IHT receipts should be 'wake-up call' to take tax advice

‘More good news for the Treasury’ as April nets £0.6bn

Jenna Brown
clock 23 May 2023 • 2 min read