Tax Jargon Busted

Tax doesn't need to be taxing - but it often is. Acronyms, tiered deadlines and complicated language can give even accountants a headache. We help you bust the jargon

Emma Wall 9 March, 2015 | 9:46AM

This article is part of Morningstar’s Guide to Financial Planning, your handbook for making the most of your tax-free investing opportunities, reducing your annual – and lifetime – tax bill while keeping HMRC onside.

Despite the promise in those television adverts, tax more often than not is taxing. Have you topped up your ISA? Used your pension allowance? Maximised your inheritance tax exemptions? If you answered no to any of the above you could be missing out on thousands of pounds of extra income, growth and profit. But in order to make the most of your personal finances it can feel like you need an accountancy qualification or a degree in further maths.

Breaking down the jargon is the first step – making sure that you understand what the acronyms stand for, and the allowances you are awarded.

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The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

About Author

Emma Wall  is former Senior International Editor for Morningstar

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