Like most people you are almost certainly paying more tax than you need to. So, with the end of the tax year fast approaching and Gordon Brown's budget now in the bag it's an ideal time to consider some tax planning ideas.

With the end of the tax year fast approaching you should make sure that you have made full use of your ISA allowances. Remember that all ISA investments are free of income tax and capital gains tax so whether you are looking for a Cash ISA or Stocks and Shares ISA the tax benefits are potentially enormous particularly if you are a higher rate tax payer. read more ... Compare cash ISA's >>>

2. Tax Savings for Couples
Another tax planning opportunity presents itself to married couples and civil partners where one is a high rate tax payer while the other has little or no income.
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Children are entitled to the same personal tax allowance as adults (£5,035 for the tax year ending 5 April 2007, increasing to £5,225 for tax year ending 5 April 2008). This means that they can earn income from their accounts up to their personal allowance figure tax free. If grandparents provide capital any interest arising will count towards the child's personal allowance. read more ...

4. Inheritance Tax (IHT)
Inheritance tax is becoming the biggest potential tax burden to more and more people as a result of the ever improving standard of living and more crucially the increasing value of properties. read more ...

5. Capital Gains Tax (CGT)
If you've made any capital gains this tax year or think you might make a gain next year then a bit of planning could help to mitigate the tax you will pay. read more ...