As we approach the end of another tax year (5th April 2025), there are a few areas of planning to consider.
ISA Allowance Deadline
ISAs and Junior ISAs (JISAs) offer tax-free growth – don’t forget to utilise your £20,000 allowance and £9,000 allowance respectively.
Pension contributions
Boosting pension contributions before tax year end lowers your taxable income and potentially moves individuals into a lower tax bracket.
Charitable donations
Making charitable donations before the end of the tax year reduces your taxable income.
Capital Gains Tax (CGT)
You only have to pay CGT on overall gains above your tax-free allowance. This allowance cannot be carried forward.
Inheritance Tax (IHT)
Planning
Individuals can gift from surplus income without incurring IHT providing certain rules are met.
Get intouch
If you’d like to discuss your requirements please feel free to contact our advisors