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 2011/12 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 decided to issue the summary now, at the start of the tax year, so advisers can plan ahead.

Cathy Russell, Tax and Estate Planning Consultant at Canada Life, said:

“The feedback received by us on our 2011/12 checklist was incredibly positive. 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 the 2012/13 tax planning checklist 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 this checklist, but we are always available to discuss any queries or help provide solutions to complex situations.”

To receive a copy of the 2012/13 tax planning checklist email: ican@canadalife.co.uk.