Aiming to achieve your long-term goals while meeting the demands of today requires an effective tax and financial plan. That means using the right tools for you at the right time and ensuring you find the right balance of savings and investments, to make your money work harder for you. This is even more important in a time of continuing financial uncertainty.
The freezing of many tax allowances is also placing a greater burden on many taxpayers, so it’s essential to consider the decisions and actions you can take this tax year to mitigate any impacts.
Tax year-end planning
It might be to take the first step onto the property ladder, save for your child to go through university debt free, or upgrade to a bigger home. Or it could be to enjoy the financial freedom in later life to follow your passions, or to ensure you’ll pass on as much of your wealth as possible to loved ones.
Whatever your ambitions, smart tax planning can play an important role in helping you achieve them. And a key element of that is ensuring you take advantage of the tax reliefs and allowances that are available to you every year.
So, are you ready for tax year-end?
We can help you create a coherent plan
Act before the 5 April deadline
Remember, there’s still time. We can show you how to benefit from your available tax allowances and reliefs, now and in the future.
Expert advice is invaluable here. Whether it’s opening or topping up an ISA, maximising your Capital Gains Tax allowance or adding to your pension, we’re here to help.
The value of an investment with St. James’s Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than you invested.
The levels and bases of taxation, and reliefs from taxation, can change at any time and are generally dependent on individual circumstances.
Your tax year-end checklist
Ensure you’ve made the most of your available tax reliefs and allowances to create the financial future you want.
ISAs
Are you taking full advantage of this year’s £20,000 ISA allowance? Or the £9,000 Junior ISA allowance? Read more
Personal Savings Allowance
Have you got the balance between keeping a cash fund and making the most of this year’s ISA allowance? Read more
Inheritance Tax
Are you looking to reduce a potential IHT bill? You can gift up to £3,000 before 5 April and it will reduce the taxable value of your estate. Read more
Capital Gains Tax
Make sure you pay what you owe this year, but don’t end up paying when you don’t need to. Are you thinking about how the reduction of the tax free threshold in 2024/25 will affect you? Read more
Dividends
Are you receiving your dividends tax free in an ISA? Are you thinking about how the cut to allowances from 2024/25 will affect you? Read more
The value of an investment with St. James’s Place will be directly linked to the performance
of the funds selected and may fall as well as rise. You may get back less than you invested.
The levels and bases of taxation, and reliefs from taxation, can change at any time and are
generally dependent on individual circumstances.
Arrange a consultation
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