There is a great opportunity over the next three months to encourage clients to make use of the available allowances and exemptions that are open to them for the 2019/20 tax year.
In this video, Tony Wickenden discusses tax year end planning over the next three months, but also the need to look ahead to planning tax strategy for 2020/21.
He looks at the cost benefit analysis that clients will weigh up of accessing allowances and exemptions against the work involved, and the potential tax savings to be had versus the steps needed to claim or take action.
Tony also talks about why this tax year end differs from the norm, against a backdrop of heightened publicity around tax issues as well as the upcoming Budget.
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N.B. Since this video was recorded, it has been announced that the Budget will take place on 11 March 2020.