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

IHT tax take on course for record-breaking year as receipts rise again

IHT tax take on course for record-breaking year as receipts rise again

Treasury collected £133m per week in IHT tax so far this year

Jenna Brown
clock 21 September 2023 • 4 min read
Richard Burgess is a director with Moore Kingston Smith

Why grandparents can be 'trusted' with school fees

What advisers need to know about discretionary trusts and IHT

Richard Burgess
clock 20 September 2023 • 4 min read
Insurance is an 'underutilised tool' against inheritance tax

Insurance is an 'underutilised tool' against inheritance tax

Insurance could be used as the government closes other loopholes

Isabel Baxter
clock 14 August 2023 • 1 min read