Year End Tax Review 2009/2010 Contents Lead articles The year ahead... This year, next year Pension hit Employees Too much NIC NIC and pensions Company cars Tax-free benefits Business - General Time to incorporate? His and hers Family bonus Profit and loss Show me the money Can't pay, won't pay? Turning back the clock Business - VAT Standard VAT or flat VAT? VAT goes down - must come up? European revolution A good start for VAT Happy returns? Investments Top-up savings Rainy day money Capital Gains Gains favoured Splitting gains A place in the country Holiday lets end Families Family fortunes Where there's a Will Credits and debits Piggy banks Still trustworthy? Administration Penalty shoot-out Paperwork, paperwork Pay tax later Opportunity knocks again Charity Give and save Non-Domiciled People Home and away Interest Interesting times

Top-up savings Contributions to some tax-favoured investments are capped for each fiscal year. The limit for Individual Savings Accounts (ISAs) is £7,200 in total, or £10,200 if you're over 50 (it's going up to the higher figure for everyone on 6 April 2010). You can put up to £500,000 a year into Enterprise Investment Schemes (with 20% relief and possible CGT deferral), and £200,000 into Venture Capital Trusts (with 30% income tax relief). Extra pension contributions may get better relief - certainly earlier relief - if you make them before the end of the tax year. Of course, the tax relief does not on its own make something a good investment - you need to take proper advice on where to put the money, as well as understanding how it will reduce your tax bill. If you are thinking of putting money into one of these schemes, you may want to do so before 5 April to maximise the benefit. Action Point! Do you want to top up your investments?