Below are some key End of Tax Year actions and we welcome you contacting us to ensure you do not miss out:
- Ensure you maximise your pension contributions (which could be worth £200,000), and for your children/grandchildren (at £3,600)?
- Maximise your ISA investments (£11,520 this year) and Junior ISA (at £3,720) for children/grandchildren?
- Have you considered investing in a Venture Capital Trust (VCT) or Enterprise Investment Scheme (EIS)? With income tax relief of 30%, plus other tax beneficial features, they should not be ignored
- Have you utilised your Capital Gains Tax personal exemption (currently £10,900)?
- If you are married or in a Civil Partnership and one partner/spouse has a much lower level of earned income, have you considered transferring income producing assets to the lower income earner? You can also transfer growth investments without incurring tax, and as they are now held by a lower income partner the capital gains tax payable when sold will be based on their income.