We're fast approaching the end of the 2012-13 tax year - 5 April 2013 - if you have not used up your personal tax allowances by this date you will loose the benefit that they provide.
During the 2012-13 tax year you can receive £8,105 of income, tax free. This could be in the form of a salary, bank interest or sole trader profits.
On top of this you can receive £34,370 worth of dividends (gross) and still pay no personal tax.
If all your sources of income for the 2012-13 tax year total less than £42,475 then you may have some tax allowance left unused.
Now would be the time to get in touch with us to see if you have profits in your company that can be released tax free as a dividend.
Don't put this off - once we enter the 2013-14 tax year on 6 April 2013, the opportunity will have passed.
Contact us now to find out more.