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Are you making full use of UK tax regulations?

While the vast majority of us have a fairly straightforward tax life, i.e. we work, we pay tax and spend the rest, a number of people such as those who work from home and possibly overseas may have more complicated tax lives than the average member of the UK population. As a consequence, it is vital that you make yourself aware of the full range of tax regulations and tax benefits in place and ensure that you make the most of your individual situation.

We hear reports of hundreds of millions of pounds of tax rebates and other repayments going unclaimed each and every year, with many people apparently unaware they could be in for a windfall. Unfortunately, the UK tax authorities will not knock at your door and hand over the cash, instead they will wait for you to make yourself aware of the situation and request your entitlement. As a consequence, you should take professional advice where possible and where applicable because the money you spend gaining his advice could be dwarfed by potential tax savings you could have available to you.

Don't forget that tax regulations often change year by year, with capital gains tax and other allowances regularly updated and tweaked, so no one year will be exactly the same as any other.

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