Robert Salter, a Director at Blick Rothenberg, emphasizes that managing personal finances is as crucial as health resolutions, highlighting that being proactive about taxes is key to financial well-being.
Salter suggests that taxpayers resolve to file their tax returns early to mitigate stress and avoid potential penalties from HMRC, promoting a proactive approach to tax management.
He encourages individuals to explore available tax reliefs, especially for those paying higher rates, by claiming gift aid contributions through self-assessment, which can provide immediate financial benefits.
For couples, Salter recommends examining how assets are held to optimize tax efficiency by transferring them to a lower-rate taxpayer, thus making better use of personal allowances.
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