Welcome to our FREE top 10 tax tips page

Below Jason has given his top ten simple ways to save tax:

1. Keep accurate accounting records, remember to note down all business expenses;
    
2. file your tax return before the 31 January and avoid unnecessary fines;
    
3. pay your tax on time and avoid paying interest as well as a 5% surcharge;
    
4. if you are married consider organising your investments so the investment income is paid to the partner who pays tax at the lower rate;
    
5. stakeholder pension schemes, you can invest for your husband/wife even if they have no earnings, and you get basic rate tax relief on the contributions;
    
6. gifts to charities, if made under gift aid or charitable covenants higher rate tax payers will receive additional tax relief on payments made;
    
7. Child Trust Fund, if eligible the government will send you (the parent) a voucher for £250 to open a Child Trust Fund account for your child (in certain cases there will be an additional £250 voucher).
   Not only do you get at least £250 (voucher) but Child Trust Funds are free from income and capital gains taxes.
   (The Child Trust Fund is available from April 2005 for children born on or after 1 September 2002);
    
8. check your eligibility for the new Child Tax Credit and Working Tax Credit and don’t miss out on your entitlement;
    
9. if you are aged 65 and over check you are receiving your additional personal allowances.
   (the maximum allowance is only given to those individuals whose income does not exceed £21,800 (2008/09) previously £20,900 (2007/08), after this a reduction is applied to the additional allowance);
    
10. consider replacing your old company car with a new tax efficient model and reduce your tax bill.