Maximise Your Tax Allowances Before 5 April!
Time is ticking! The 5 April 2025 tax deadline is fast approaching. Are you making the most of your allowances? Don’t let them go to waste!
Key tax allowances to consider:
ISA Allowance – £20,000 per person
- Tax-Free Growth – No income tax, CGT, or dividend tax on ISA investments.
- Boost Your Retirement – A tax-efficient way to grow wealth for later years.
Pension Contributions – £60,000 Annual Allowance
- Contribute up to £60,000 gross (or 100% of earnings if lower).
- Carry forward unused allowances from the past 3 tax years (if eligible).
- Reduce Your Tax Bill – Pension contributions can lower your taxable income.
- Pension planning can be complex—seek professional advice!
Capital Gains Tax – £3,000 Allowance (Down from £12,300 in 2022!)
- Use It or Lose It! Any unused allowance won’t roll over.
- Spread Your Gains – Selling assets across tax years can reduce CGT liability.
- Spouse Transfers – Married couples/civil partners can double their allowance to £6,000.
- Offset Losses – Reduce taxable gains by using past investment losses.
Smart tax planning now could save you thousands later! If you hold stocks, shares, or property (excluding your home), now is the time to review your portfolio.
Please Note: The value of investments and any income from them can fall as well as rise and you may not get back the original amount invested. Tax Planning is not regulated by the Financial Conduct Authority.
Financial Advice
Tax Planning
Tax year end
Use it or Lose it
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