DO YOU KNOW HOW
TO SAVE TAX EFFICIENTLY?
Capital Gains Tax (CGT)
Capital Gains Tax is a tax on the profit when you sell something (an ‘asset’) that’s increased in value.
However you only have to pay Capital Gains Tax on your total gains above an annual tax-free allowance.
Income Tax is a tax you pay on your income, above a certain threshold.
You don’t have to pay tax on all types of income.
IF YOUR ESTATE IS ABOVE
A CERTAIN LEVEL UPON YOUR DEATH,
THERE MAY BE TAX TO PAY
When an individual dies, the property, money and other assets that they leave behind (minus any debts that have to be paid off) is known as their ‘estate’.
This estate is usually left to the friends and family of the person who has died and effectively becomes their inheritance.
From July 1 2014 all ISAs became New ISAs (NISAs).
This applies to all existing ISAs and new accounts that were opened after 1 July.
THERE ARE CERTAIN INVESTMENTS
THAT CAN HELP REDUCE
THE AMOUNT OF TAX YOU PAY
Venture Capital Trusts
Venture Capital Trusts invest in smaller companies.
They’re fast growing and forward thinking, and are one of the engines of growth in the UK economy.
Enterprise Investment Scheme
Enterprise Investment Schemes invest in smaller companies.
The UK government introduced the Enterprise Investment Scheme (EIS) in 1994 to encourage investment in smaller companies.
SEIS IS TARGETED AT
SOURCING INVESTMENT IN
Seed Enterprise Investment Scheme
SEIS was revealed as a concept in parliament in 2011, as the start-up sector was identified as critical to Britain’s attempt at economic recovery in the wake of the global recession. It was then implemented officially in April 2012 and was confirmed as a permanent piece of legislation a year later.