Canada Life has produced a practical tax planning checklist which details the main allowances, exemptions and reliefs available to individuals and trustees.

Following the very warm reception for its 2013/14 checklist the Canada Life Technical Services Team has collated the latest details of the various tax allowances and annual exemptions as a quick reference guide for advisers.

The Canada Life Technical Services Team takes a lot of calls from advisers as they seek to ensure maximum tax efficiency for their clients. As such they have issued the summary now, before the new tax year starts, so advisers can plan ahead.

Neil Jones, Technical Manager at Canada Life, said:

“As one tax year draws to a close and another one gets underway, tax planning is very much on the agenda for financial advisers and their clients. When time is of the essence we understand how frustrating it can be when you have to spend valuable time searching for all the different bits of information you need.

“We want to make sure advisers have a copy of both the 2013/14 and 2014/15 tax planning checklists throughout the tax year so they can be confident they have all the basics to hand.

“A lot of the queries received by the technical team on allowances and exemptions can be answered by referring to these checklists, but we are always available to discuss any queries or help provide solutions to complex situations.”

To receive a copy of either of the tax planning checklists (2013/14 or 2014/15) email: ican@canadalife.co.uk.