Husband and wife partnerships of the fiscal rather than the emotional variety could be nearing their end if the government pushes through its proposals on "service companies" in the budget later this month.
"It's all part of the Inland Revenue attack on service companies - the one person outfits that do the same job as an employee but end up with a far better tax deal," says Martin Donn at accoun tants Blick Rothenberg. "But it's not just companies. Partnerships where one spouse pays the other a small sum to avoid tax and national insurance will also be hit.
"They will now have to show that expenses are 'necessary' as well as being 'wholly and exclusively' for the business - and that's a far more difficult task."
So far, the combined brains of the accountancy profession have not come up with an immediate answer other than to make hay while the present rules last - probably until the end of this tax year on April 5. Depending on the new rules, they say, husband and wife partnerships may have to split or change the terms and conditions with which they deal with others.
But while those with service contracts will be concentrating on how to make the best of a bad job, there are still plenty of tax planning opportunities which must be taken over the next month if they are not to be lost forever.
Individuals, say accountants Mazars Neville Russell, should check they have claimed all their allowances such as the married person's allowance and the additional personal allowance paid to single parents with children in full time education.
You can claim back six years so the earliest year to apply for a rebate is 1993-94.
Many people including the self-employed and those who are directors of their own companies can either defer or advance income. It is worthwhile putting off a pay cheque until after April 5 if your earnings are going to fall next year - you could end up in a lower tax bracket.
The opposite applies if you expect next year to be better paid. Deferring income could also reduce self assessment payments for 2000-01.
Investors in high flying shares should consider selling just enough to use up their £7,100 capital gains tax allowance. Few bother, but once the tax year is passed, the CGT free slice is gone for all time. It could save £2,840. Spouses each have their own allowance.
Tax on the company car perk - if you have one - depends on how far you drive each year on business. The two key points are 2,500 and 18,000 miles. If you are near either threshold then getting out and seeing business contacts could be a good idea.
But tax inspectors will not buy the idea of consecutive days in Land's End and John O'Groats without a lot of persuasion and proof.
Mazars says not to forget pensions - one of few remaining areas where a top rate taxpayer can obtain a full rebate. Personal pension contributions have the great advantage that they can be offset against earnings in a previous tax year should you wish - so you could pay in more than one year's earnings would justify.
Finally, structured payments through gift aid or "give as you earn" payroll schemes offer big tax reliefs to charities - and that does not apply to the cash you put in collecting boxes.
