With many businesses and their owners struggling with costs and expenses, Bradford accountancy firm Watson Buckle has released new guidance to help them reduce the tax burden this year.

The practice’s expert tax team are making a new tax checklist and personal tax guide available, for free, to hundreds of taxpayers and businesses so that they can make the most of tax planning opportunities.

The current 2023/24 tax year has seen many significant changes, which require the careful management of taxpayers’ finances.

This includes changes to pension allowances; income tax rates and an overhaul of the Corporation Tax rules and reliefs.

“A lot of cost savings can be achieved with the right advice and actions,” said Rebecca Hurford, Watson Buckle’s Tax Manager.

“In fact, millions of pounds of reliefs and allowances go unused each year by taxpayers, which could help to significantly reduce tax bills.”

Rebecca said that their latest guidance was designed to help taxpayers explore new opportunities to reduce tax liabilities using the latest rates and approaches.

“Tax planning has to be an ongoing annual process, which reflects changes in legislation and the tax rules,” she added. “We are encouraging as many businesses and taxpayers as possible to download our guidance and take action to reduce their tax costs in the current tax year.”

To download a copy of the latest guidance and tax checklist from Watson Buckle, please click here.