Our annual, industry-renowned TaxAction campaign looks at how much money is wasted in the UK by not being tax efficient. Unbiased.co.uk research has found consumers are set to waste as much as £4.7 billion in tax inefficiencies this year. The research* highlights four individual areas of tax waste:
Tax relief on pension contributions: £2.9 billion of waste - up from £2.6 billion in 2013.
Individual savings accounts (ISAs): £1.1 billion of waste - down from £1.3 billion in 2013.
Inheritance tax (IHT): £530 million of waste - up from £472 million in 2013.
Capital gains tax (CGT): £154 million of waste - down from £171 million in 2013.
Find out how you can get involved with TaxAction 2014.
Do you have a lot of advisers listed on your unbiased.co.uk profile? We've now added a new feature which enables you to reorganise the order your advisers are displayed on your profile to searching consumers. While you're there, make sure your adviser profiles are up to date with photos and qualifications, as consumers love to see the faces behind the company. Log in to your account to start organising.
A long-term savings strategy is one of the key areas where financial advice can make a big difference to your clients. Self-employed people could be leaving thousands of pounds on the table in the form of pensions tax relief. Changes to workplace pensions mean that there's never been a better time to shop around for a great scheme. NEST is a new pension scheme available to the self-employed that has a competitive proposition for your clients.
The unbiased.co.uk team
*TaxAction Report 2013 & TaxAction Report 2014 both produced by Opinium Research for unbiased.co.uk