Tax planning before Budget Day 2012

With further savings needing to be made by the Government and with general speculation as to whether or not there will be tax rises, it is a fair assumption that changes to tax and pensions will be announced on 21st March 2012.

It is accepted practice that changes announced at the budget take effect from Budget Day and so if you are planning or in the process of undertaking a transaction where tax is a significant factor, or you are seeking to make large contributions to a pension scheme, you may be well advised to bring this forward to 20th March 2012 rather that 5th April 2012.