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Deferring tax
![[Deleted User]](https://us-noi.v-cdn.net/6031891/uploads/defaultavatar/nFA7H6UNOO0N5.jpg)
[Deleted User]
Posts: 0 Newbie
in Cutting tax
Hi, I think businesses can defer tax on profits to other years but is this also possible for people on paye? I would like to defer some investment interest earned during year 09/10 to the following tax year, as although my income will exceed the personal allowance for this year, I do not however anticipate that my income will exceed this level next year (due to interest rates being so low) Can someone please advise if this is legal?
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Comments
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No it's not possible.0
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Not possible as far as I know. You are liable to tax in the year the money is paid to you.
Try and put money into an isa as all interest and gains from an isa is tax free0
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