tax year end

Make the most of your tax allowances and reliefs before the 5th April deadline.

With the largest proportion of adults forecast to pay higher rate tax since the beginning of the individual income tax system in 1990/91 according to the Institute for Fiscal Studies, it is now more important than ever to make the most of the tax allowances and reliefs available to you.

Here is your financial planning checklist with 7 key considerations to ask yourself in preparation for the tax year end 5th April deadline.

1. Could you transfer savings or investments to your partner to minimise tax payable at the higher rates next tax year, to maximise use of the personal savings and dividend allowances, or to avoid losing your personal allowance or child benefit?

2. Have you considered the timing of dividends and bonuses to minimise tax payable?

3. Have you used your CGT annual exempt amount by making any available disposals before the tax year end?

4. Are you investing enough in your pension (or possibly a lifetime ISA) if you wish to, or have to, retire earlier than state pension age, which is likely to keep going up?

5. If you are aged over 55, have you taken advice about the options for drawing your pension savings?

6. Have you used this year’s ISA allowance and made any other tax-efficient investments before 6 April 2023?
7. Have you made gifts to use your annual IHT allowances?

Our guide provides more information and insight into the core opportunities you should consider as the old tax year ends and the new begins. We also provide some essential tips for those wanting to reduce their inheritance tax liability.

Download the guide here

Planning for tax year end - download the guide

Tony Maleham

Tony Maleham

Director, Tax

Tony joined the company in October 2019 to head up Progeny Tax together with

Learn more about Tony Maleham