Getting some perspective

Apr 1, 2008, 05:18 AM

Authors : Richard

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Post date : Apr 1, 2008, 05:18 AM

Every so often, you hear a piece of news that puts your tax planning efforts into perspective.
You’ve probably been spending some time over the past couple of months considering what the effect of the loss of taper relief and indexation allowance will mean for your clients.
Maybe you’ve suggested a few transactions to ‘bank’ the relief.
Then you hear that Lord Sainsbury disposed of £340 million worth of shares yesterday, potentially saving himself £27 million worth of capital gains tax in the process.
Apparently, as reported in The Times, Sir Ken Morrison (or supermarket fame) and Sir James Dyson (vacuums) have likewise recently ‘shuffled’ their share portfolios.
I suppose all three of them have a connection with the sale of cleaning products and are certainly cleaning up here.
Right, time to transfer those BT shares to the wife!

For a more realistic view of tax planning, go to Taxation.co.uk.

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