Spring time is nigh: the clocks will be bounding forwards, and as I write, along with the Budget, a new tax year is nearly upon us. Oh what joy! Not only will we have to suffer the usual increases in direct taxation, but any other little surprises that the Chancellor has for us. By the time this illustrious periodical hits the letterboxes of West Hill, we will probably know our fates.

There are always pre-budget rumours, of loopholes to be closed, reliefs to be removed, and tax advantages to be, er, ‘disadvantaged’. These regular visitors include: the removal of higher-rate tax relief on pension contributions, the cessation of the ability to take 5% tax-deferred income from Life Assurance Investment Bonds, and the introduction of a lifetime cap on ISA funds, to name but three. There is also plenty of discussion, regarding the mooted mansion tax, but this is unlikely to bother most of us, even if it does materialise. Inevitably, whatever has been handed out to us, we will just have to live with it!
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