Annual Tax allowances – use them or lose them
5th April is the end of the tax year. Now is the time to get around to using those tax allowances, before you lose them – e.g.
Gift Allowance – £3,000
Capital Gains – £12,000
Pension Contributions
- £3,600 for anyone
- £40,000 for those earning less than £150,000
Employee benefits
- £300 – trivial benefits for Directors and their household
- £150 – annual staff functions
Savings
- Interest – £1000 for basic rate taxpayers, £500 for higher rate taxpayers
- ISA – £20,000
- Lifetime ISA – £4,000