With the spring Budget less than two weeks away, it's easy to forget some major changes due to come in this spring unlikely to be changed by the Chancellor. 

Property Interest Tax Relief - Full restriction

Four years ago this seemed a long way off, but we're now here. From April, there will be no tax deduction for interest on your buy-to-let mortgage. You'll get a calculated tax credit at 20% offset against your tax bill, but your taxable income is reduced only by repairs, professional fees, void period costs, etc.

This means you're more likely to find yourself in the higher rate tax band than before or having to pay back child benefit. Or even at the £100k threshold where your tax free personal allowance starts to get taken away. 

You do it every year.

You know it’s coming, like your partner’s birthday or Christmas, yet more often than not, you leave it till the last moment. Probably it’s because it’s one of those tasks which is always looming in the background and you don’t really like doing it. All those receipts, all those invoices. 

You ask yourself "Why don’t I get it done earlier and avoid the stress or rushing around when I have plenty of other important things to do?”  Here are five very good reasons to get next year's tax return in quickly:

It was going to be Boris' first Budget today with, we hoped, a few sweeteners or at least the promise of a few. As we'll only know on Friday 13th December what party or coalition will deliver the next Budget, what can you still rely on when trying to be tax efficient? As I see it, these are the enduring themes:

• Innovation is a good thing  
• Green incentives will continue
• Pension saving will still be encouraged (until your pension is 'big').
• Timing is (nearly) everything

How do these themes translate into the tax system for you? 

Here are some tax free treats you could take from your company, with the maximum tax free amounts for a two person shareholder-director company shown in brackets. 

• Salary (£25k pa)
• Trivial Benefits (£600 pa)
• Annual Parties (£600 pa)
• Cycle To Work Scheme (Credit License Limit: £2k)
• Private Health Checks (Annual - £No Limit)
• Eye Tests (Annual - £No Limit)
• Tax Free Dividends (£4k)
• Pensions (Possibly £80k pa – With IFA Advice)
• Relevant Life Policies (£Not Excessive)