Making the most of your allowances before the end of the Tax Year

Use it or lose it – that’s the nature of financial planning when it comes to your allowances and the end of the tax year on the 5th of April.

So, if you’re looking to top up your pension, your ISA or that of a family member, or make some share disposals, now is the time to speak to a financial planner.

What you might be about to lose…

  • Pension contributions for you and your spouse. The annual allowance is now up to £60,000 for individuals.
  • It’s £20,000 for adult ISAs in 2023/24
  • Junior ISAs. Up to £9,000 for under 18s
  • Use your Inheritance Tax (IHT) allowances, such as gifting up to £3,000 each tax year
  • Crystallise Capital Gains and losses. The Capital Gains Tax (CGT) annual allowance is coming down to £3,000 per year in 2024/25, so now is a good time to consider it.


Find out more

If you’re not sure whether you have a need, you might want to read these articles from one of our accountancy partners, KPMG, and a Chartered Financial Planner in our Wilmslow office, Warren Bentham who talks about retirement planning opportunities in more detail


Speak to Wren Sterling about your tax year end requirements


IMPORTANT: The Financial Conduct Authority does not regulate tax or estate planning. This article is for information only and does not constitute financial advice.