There are some moments in life when it pays to leave things to the last minute, whether it is movie tickets or a cheap holiday deal. Dealing with financial planning or tax is not one of those times. It is in your interest to think about such issues in advance, and to talk to your family, advisors and business partners to make sure that everything is in order. Don’t leave it to the last minute!

Not all business strategies can be carried out late in the day. Most good operations require preparation, research and the proper drafting of documents before they can function at the optimum level. Try and make your tax and financial planning a year round activity.

The current tax year ends on 30 June 2011, and any tax planning should be completed a few days before that date, at the very latest.