Tax year-end is coming in hot, with the 5 April deadline nearly upon us, there is still time to take advantage of end of year tax planning.
Our Year-End tax planning guide is here to offer practical advice to streamline your finances and maximise tax allowances before the end of the financial year.
The run-up to the end of the tax year on 5 April 2024 is a good time to make sure that your family and business finances are arranged in the best way possible.
The freeze of many tax rates and thresholds continues to increase the government’s tax take, but there are still many useful ways to arrange your affairs tax efficiently, and we provide an overview of some of these here.
Where you have discretion over the timing of income, for example, you can establish when that income is best taken — in this tax year or the next. A review before 5 April 2024 could therefore have a significant effect on your tax position. For Scottish taxpayers, to whom higher tax rates and thresholds apply, this is particularly true.
Key Elements Covered Our Year-end Tax Planning Guide:
- Tax rates and allowances
- Tax and the family
- Family companies
- Pension planning
- Unincorporated businesses
- Investing tax efficiently
- Capital Gains Tax
- Using Gift Aid
- Year-end checklist
