Savers urged to plan for tax changes

Mon, 21 Jan 2008

People with savings accounts, pensions or other investments have been told that they will need to put greater effort in to tax planning in the coming year.

NFU Mutual says that with a number of changes coming in to effect at the start of the new financial year - April 6th 2008 - consumers need to act now.

The new regulations affect individual savings accounts (Isas) - with a £200 increase in the annual allowance and the removal of the concept of mini and maxi Isas .

Anyone with property investments might find themselves affected by the proposed chances to capital gains tax with the introduction of a single rate and the removal of taper relief both being considered.

The amendments to capital gains tax were announced in the 2007 budget.

However, the proposals have been widely criticised by business leaders who fear that they will impact on small business owners and investors .
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