Don't forget tax-free cash in the Child Trust Fund

• Use your Isa allowance. Check on the HMRC website for the current limit per financial year and make the most of it.
• Send in your tax return by the January 31 deadline. Self-assessment forms received after that time are slapped with penalties of at least £100.
• Use your personal tax allowance. If you’re not sure what that is, ask your accountant or speak to your local tax office. Find them at the HMRC website.
• Make the most of your pension allowance. Boost contributions to personal or company pension schemes and consider making Additional Voluntary Contributions (AVC) – although be careful of these because they can be expensive and not worth the tax saving.
• Use your spouse. If you pay tax but your spouse doesn’t, move some of your money to their name to use their tax allowance.
• Plan your inheritance. If you own your own home it’s likely that your assets are already over the inheritance tax (IHT) threshold. Write life assurance policies in trust, make use of all inheritance tax allowances and, of course, make a will.
• Take advantage of any share plan your employer offers. These are tax-efficient and can be highly lucrative if the company is doing well.
• Give to charity through Gift Aid or payroll giving so that the charity benefits from the tax you would have been paying.
• If you’re a non tax-payer, make sure you’re not being charged tax at source by banks and building societies. Go to the HMRC website to download a form R85 with which you can claim tax back on your savings.
• Make sure your child benefits from the Child Trust Fund – free money from the Government and tax-free savings.

For more tips on avoiding tax go to Unbiased.co.uk. They even have an online calculator which will show you how to maximise your tax savings.