Tax Planning Checklist

No two taxpayer's circumstances are the same in the current economic environment, so we have put together this checklist as a starting point to help you highlight the areas in which you may need support.

Each section can help you identify:
  • Specific areas of interest.
  • Matters on which you would like further information or explanation.
  • Questions for further discussion with the MGT team.
Whether you’re a buy-to-let landlord looking for tax advice on rental income, want more information on personal allowances, or anything in between, this checklist is designed to help us provide you with specific, tailored advice and support.
Simply complete the relevant areas of the checklist and submit it to us, and a member of MGT team will get in touch.

A few essentials Yes No N/A Notes / Comments
A review to establish whether a self assessment
return is required where not previously done.
Obtain a tax return checklist where a self assessment
return is required.
Obtain guidance on recordkeeping requirements.
Family matters Yes No N/A Notes / Comments
Personal allowances
Is each member of the family using their personal
Where income is in excess of &pound !important;100,000 whether
consideration has been given to reducing
income to preserve the personal allowance?
If neither you nor your spouse pays tax at the
higher or additional rates you may be eligible
to make a transferable Marriage Allowance
election. Has this option been considered?
Where the family is entitled to Child Benefit has
equalising income been considered to reduce the
impact of the High Income Child Benefit Charge?
Charitable donations
Are charitable gift aid donations being made?
Is tax relief being obtained at the highest level?
Consider whether investment ownership needs
to be reviewed to equalise income to utilise
the Dividend and Savings Allowances
Working for others Yes No N/A Notes / Comments
Request a tax code check
Obtain further information on the tax treatment and structure of:
• employer provided cars/vans
• fuel costs and mileage claims
• other employment benefits including
changes to childcare
• expense policies and reporting requirements
Running a business Yes No N/A Notes / Comments
I would like further information in connection with:
• suitable business structures
• choice of accounting dates
• allowable revenue costs for tax relief purposes
• the cash basis for unincorporated businesses
Capital expenditure Yes No N/A Notes / Comments
I would like guidance on:
• what types of capital expenditure qualify for tax relief
• the timing of expenditure to maximise reliefs
• the position of tax relief in relation to motor cars and other vehicles.
Employer Obligations Yes No N/A Notes / Comments
I would like guidance on:
• Real Time Information and payroll issues
• Pensions Auto Enrolment
Companies Yes No N/A Notes / Comments
Obtain information about assistance with Company tax
returns and computations
A review of profit extraction methods and their relative tax
costs and related considerations.
Advice on the impact of the Dividend Allowance and
dividend tax rates.
Advice on the loans to shareholders rules.
VAT Yes No N/A Notes / Comments
Further information is requested on:
• when do I need to register for VAT?
• what VAT can my business reclaim?
• assistance with VAT accounting and returns
• special schemes suitable for my business
Tax and your investments Yes No N/A Notes / Comments
I would like further information on:
• Individual Savings Accounts (ISA)
• Junior ISA
• Help to Buy ISA
• Lifetime ISA
• Enterprise Investment Scheme
• Seed Enterprise Investment Scheme
• Venture Capital Trusts
• Other investment products
Pensions Yes No N/A Notes / Comments
I would like a review of:
• suitable pension scheme options available
• the level of pension contributions being made and the tax position of making additional contributions
• the options available at and during retirement
Property matters Yes No N/A Notes / Comments
Buy to let
Identify a suitable local agent for advice on the property
rental market.
Ensure any new sources of rental income are
appropriately notified to HMRC.
Obtain further information about allowable costs and
expenses for tax purposes including the restricted tax
relief available on buy to let property finance costs.
Stamp Duty Land Tax and Land and Buildings Transaction
Tax increased rates.
Main residence Yes No N/A Notes / Comments
I would like to consider a review on:
• any action which needs to be taken as a result of
   acquiring a second residence, including the position
   on marriage where both spouses retain ownership of
   separate dwellings
• criteria and evidence for establishing occupation of a
   residence for main residence relief
• guidance on the impact of using a main residence or its
   related garden/grounds for other purposes
• what comprises a main residence for the purposes of
    the capital gains exemption
Capital Gains Tax Yes No N/A Notes / Comments
Consider obtaining professional advice regarding
reliefs and advance planning which may be available
to reduce capital gains on significant assets held
including disposals of business interests and shares.
Consider a review of opportunities to use annual
exemptions and tax bands by family members.
Inheritance Tax Yes No N/A Notes / Comments
I would like further information on:
• Other investment products
• lifetime gift planning
• IHT reliefs available
• whether trusts may be a suitable option
• the use of the nil rate band
• making a will
• using life assurance policies for IHT
After you complete the above form, you can scan and email to us on and one of our team members will get in touch with you