Are You Ready For The End Of The Tax Year?

Despite the chaos in the world, one thing that is predictable with rock solid certainty is that the tax year ends in just a few weeks on the 5th of April.

So, it’s that time of year again when we remind you of a few strategies for arranging your tax affairs more efficiently to minimise your tax exposure and make the most of the tax-saving opportunities available to you before the 5th of April.

Because while it is only right that we all pay our fair share of tax, that doesn’t mean you can’t be a bit shrewder in making legitimate use of the tax allowances the Government offers you.

In his Autumn Statement 2022, the Chancellor froze many of the tax allowances for individuals and cut the capital gains tax annual exemption.

This will have the effect that, over time, most people’s tax liabilities will increase, and more taxpayers will be sucked into the Self-Assessment system.

The good news is that there will still be chances to review your tax and financial arrangements throughout the tax year – but you may well benefit from checking out any remaining reliefs, allowances and exemptions, while considering planning opportunities either for this tax year or to improve your long-term future.

So please take a look through this planner and get in touch if you would like to discuss any of the points raised.