The tax year-end is fast-approaching on 5️⃣April 2021, there are valuable allowances that you should consider utilising before tax year end to ensure that you’re making the most of your tax allowances.It’s worth thinking about topping up
your pension as much as you can before 5️⃣ April 2021 to make use of any unused allowances from previous 3 tax years
If you’re a director or owner
of a limited company and you’ve made a profit during current tax year, you should consider making dividend payments to reduce your tax bill
ISAs can be a great way of making your money
work harder for you, any money you put into ISAs is free of liability to Income Tax or Capital Gains Tax. If you don’t contribute the full £20,000 by 5️⃣ April, you can’t carry it forward – so use it or lose it!
Put money
for your children's future by paying into a Junior ISA as Junior ISA has same benefits as an adult ISA in terms of tax efficient savings. So its a great time ✔to save for your children
.
You can give away £3,000
worth of gifts each tax year without them being added to the value of your estate.You can carry any unused annual exemption forward to the next year - but only for one year. On gifts upto £250
per person there is no tax.
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