There is a way to extract profits out of your company paying tax at only 10%.

Ensure your remuneration package is tax efficient with correct split between salary and dividends.

Wife working in business are you set up correctly to ensure maximizing of tax benefits.

Is your vehicle in the company consider a lease allowance claim instead to save benefit in kind.

Basic rate of income tax will be reduced to 20% from April 2008 from the current 22%. However, the starting 10% band has been scrapped starting again in 2008. This means that in terms of basic income tax, an employee will not break even with regard to tax paid until they earn about £16,000 per annum.

Cash ISA savers can invest up to £3,600 from April, and Equity ISA investors up to £7,200 per year.

Personal allowance has increased to £5,225 per annum for those under 65