Alliance promotes tax saving

The fund management and pensions firm said capital gains would be taxed at a flat rate of 18pc from April 6 – but explained investors could use their SIPP to hold on to their shares while only paying 10pc on gains made so far.

It said they could do this either by making an in-specie contribution or by selling their shares to their pension fund.

Alliance Trust Savings Pens­ions development manager Steve Latto said: “As the current tax year ends, the chance to take advantage of today’s basic rate of tax and capital gains tax taper relief will be gone for good. By planning quickly and carefully, taking advantage of tactical and long-term opportunities, advisers can help clients preserve and build their wealth.”

Alliance Trust also highlighted that advisers can make the most of an opportunity around tax year end for high net worth clients to take advantage of input periods to make three years contributions in just a few days – without incurring an annual allowance charge.