The tax year end is tomorrow which means this is a good time to review tax reliefs you may be eligible for. First of all you can earn up to £11,850 before paying tax. The capital gains exemption threshold is £11,700. Tax bands are another area to be aware of. If you earn between £11,851-£46,350 you will pay 20%, 40% if you earn between £46,351-£150,000 and 45% if you earn more than £150,000. For small businesses operating in a home you can claim relief on council tax, insurance, energy, water, phone and even wear and tear to your property. In order to claim it is essential to keep good records which means investing time in your bookkeeping is never wasted time. Other factors to consider are buy-to-let properties, Enterprise investment schemes (EIS) and pensions. Inheritance tax and pensions can be affected by the consumer prices index (CPI) so being aware of the possible need to hire a professional advisor is a very good idea. Whatever tax band you are in, and keep in mind that Scottish taxes are not always the same as English taxes, our support team can offer you piece of mind when making important financial decisions. You can learn more right away by visiting the tax area on our website and reviewing all the tax services that we cover via our Edinburgh headquarters and our Newcastle office.