Key financial planning goals include:
- Making the most of your tax-free allowances
- Keeping your marginal tax rates as low as possible
- Maintaining a spread between your income and capital
Remember that all tax planning must:
- Save tax overall. Do not, for example, save stamp duty land tax at 3% only to pay more capital gains tax at 28%
- Not cost more than the tax you will save
- Be flexible enough to cope if tax law changes, and
- Not impose conditions or restrictions that you find unacceptable.
