Page 18 - link magazine

18 The Link Magazine June 1993
Three out of four adults in the UK are paying too much tax!!
Are you one of them?

Did you know that the majority of because you are a pensioner having ing results. Its research has shown tax refunds! Four tax offices have
us are probably paying too much tax deducted at source from your that 3 out of 4 adults, i.e. up to 30 actually been closed in recent months
tax without even realising it? investments, but this is a dangerous million people in the UK are paying because of the lack of response.
You may think that you can't be assumption to make. too much tax. With the introduction this April
overpaying tax because you are an A recent survey conducted by How does this happen? of the new style 12 page tax return,
employee taxed under PAYE, or Mintel has produced some stagger- There are three basic masons, ex- even more people will undoubtedly
plains Caroline Ockwell, tax part- be deterred from contacting their
ner with Steel Hodges Ockwell, Ac- tax office. The new forrnis intended
countant and Tax Advisers, in Vic- to encourage the taxpayer to work
Steel Hodges Ockwell toria Road, Swindon. out their own tax liabilities as much
The most obvious reason is the as possible but Caroline's experi-
lack of awareness of the tax allow- ence so far has been that mostclients
Accountants and Tax Advisers
ances available and the failure to have been horrified by its complex-
reclaim tax deducted at source from ity.
SPECIALIST SUPPORT investments. The second reason is the bewil-
The Inland Revenue is very con- derment which confront us when
FOR THE SMALLER BUSINESS scious of this and has recently choosing the most suitable type of
launched its own campaign to en- investment to meet our individual
WHY NOT RING FOR A FREE courage tax claims from the esti- needs.
INTRODUCTORY MEETING? mated 10 million pensioners and There are many tax-efficient forms
married women who they believe of investment available ranging from
For further information have not taken full advantage of the Personal Equity Plans to Pension
tax changes over the last few years. Funds, but without professional ad-
163 Victoria Road, Swindon Thelnland Revenueestimate that vice it is difficult to know which
Telephone: (0793) 430303 they owe this group alone approxi- ones suit your own circumstances.
mately £800 million in unclaimed Many people therefore do nothing
and thus pay tax unnecessarily. Mm-
tel's survey estimates that over £3
billion of investors' moneyis wasted
heeJt each year by failing to arrange their
ha n1- earned wealth in the most tax-
efficient manner.
This appalling wastage can be
itite drastically reduced if investors seek
independent financial advice on
how to capitalise on the tax-free
forms of investment available, ex-
plains Caroline Ockwell.
Caroline also stresses the need to
Look out for ensure that help is sought from an
independent financial advisor who
is not tied to any particular com-
pany and will therefore have wide
in July access to the opportunities available
and whose advice will be completely
impartial.
The Link magazine's annual comprehensive directory to The third mason for paying too
much tax is failing to take advan-
community services and facilities in West Swindon. tage of the more complex tax plan-
ning opportunities available.
Included will be addresses and telephone numbers for local councillors, schools, Mintel's survey estimates that al-
most £4 billion is wasted annually
health centres, churches, meeting halls and contacts for community organisations. because of either a reluctance to
change or a lack of awareness of the
WEST is aimed specifically at the needs of West Swindon, tax savings that can be achieved.
Many people are put off seeking
containing information West Swindon people need in a hurry,
professional advice of this nature by
when they don't have time to scrabble through hefty yellow directories. mistakenly believing that their af-
fairs do not warrant such attention.
Also listed will be an index of advertisers under appropriate headings. These people could help reduce this
£4 billion wastage and help them-
Not only is WEST a community guide, it's also the best way of finding out selves at the same time.
which businesses provide a service to the area. It won't cost you anything to dis-
cover whether you are one of the
majority in a position to benefit! Sim-
If you don't advertise with The Link already, a space in West is essential
ply contact Caroline Ockwell on
to ensure that your business has a high profile in West Swindon. Swindon 430303 fora FREE INTRO-
DUCTORY MEETING or call in to
see us at 163 Victoria Road.
Independent financial advice is
provided through Caroline's asso-
ciated company, Financial Advisory
Wd Sw 02292 Centre, which is FIMBRA registered.
a!L 013)