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Before the tax year runs out

By Ola Sulaimon
Ronzl Accountants
THE tax year in the UK runs from 6 April to 5 April and, as we are approaching the start of a new year, Our Northampton accountants have taken a look at tax planning ideas for business owners and individuals to help them save tax.
Tax Planning Tips
1. Tax code: This code is a very important set of numbers as it determines the amount of tax an individual has to pay.
Check your tax code to ensure that it is correct. For most individuals in the UK, it would be 1200L and, if this has been adjusted, check if this is correct. If you are not sure call HMRC just to ensure right code has been used.
2. Tax timing for selling capital items or other income: