Money News
The tax year, as ever, ends on 5 April, which also happens to be Maundy Thursday this year. If you don't intend to be financially crucified by Chancellor Brown, you have only three weeks to ensure all your tax breaks and allowances are utilised.
If you need to, sharpen your focus on tax planning with these two statistics:
1. Nearly 3.3 million of us will pay the higher rate of income tax (40%) this year, according to the Institute of Fiscal Studies; thats an increase of 1 million since Labour came to power in 1997.
2. A record number now fall into the inheritance tax trap (current threshold £285,000); research by life office Scottish Widows shows that some 10 million households are now liable to IHT, a 34% increase on last year.
READ MORE: Taxing times
16 March 2007 © Moneyextra.com
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