A FEW weeks ago I was asked to deliver a short talk on saving tax. I was given just ten minutes, so I knew I had to keep it simple.

I suspect that if I had asked how many people in my audience had learned something new only a few hands would have gone up.

If however I’d asked how many could have taken the steps I’d suggested but hadn’t, I would probably have had a different answer.

The fact is that many people know how to save tax but just don’t get around to it.

Tax can often be saved by taking very simple steps.

Do you know what your top rate of tax will be this year?

There are a number of ‘break points’, the main ones being the personal allowance, the higher rate threshold, £100,000, £118,880 and £150,000.

Between now and April 5, you may be able to adjust the rate of tax you pay by moving below one of those break points.

You might do it by paying more into a pension (saving tax at up to 60%) or by making a gift to charity; you might do it by transferring an income producing asset to your spouse or civil partner or by changing business profit shares.

If you have realised capital gains you might be able to reduce the tax bill by crystallising capital losses or offsetting trading losses; you might be able to reduce the rate of capital gains tax from 28% to 18% tax by reducing your taxable income for the year using the methods I have already mentioned.

If you are about to realise capital gains and have a spouse or civil partner (especially one with no or lower income or with capital losses) you may be able to reduce the tax bill in other ways.

You may not have used your annual Individual Savings Account allowance or have made gifts within your annual inheritance tax allowance.

If you are in business you may not have considered whether you have the most tax efficient business structure – and the structure can have consequences for income tax, capital gains tax and inheritance tax.

The question is not necessarily what you know, but what you do with what you know.

And if you are not confident that you have the knowledge you need, a good tax adviser can easily explain your options.

*Paul Aplin OBE is a tax partner with A C Mole & Sons and chairman of the Technical Committee of the Institute of Chartered Accountants in England & Wales Tax FacultA Tale of Twy; you can follow him on Twitter @PaulAplinOnTax. He and fellow tax partners Amanda Gunter and Paul Kingdom can be contacted on 01823-624450.