Tax Year End Planning – the three pillars
- On March 24, 2021
- By GrowthInvest Marketing
The tax year end is always an immovable deadline for financial advisers, with the period between the previous tax year’s self-assessment deadline of 31 January and 5 April being particularly important for prudent tax planning. When it comes to this specifically, a well-respected adviser once said to me, “my tax planning follows three simple steps; firstly pension, secondly ISAs and third EIS (Enterprise Investment Scheme).”
As a savvy adviser, he of course also utilised the myriad of complex tax planning structures and tools at an adviser’s disposal, and as it is for many clients, mitigating against inheritance tax (IHT) was at the forefront of all planning. However, while all advisers utilise and, where possible, maximise their clients’ pension and ISA allowances, the third pillar – EIS – is still underutilised by many.
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