New Year Resolutions To Save Tax

Post Author:

Anne Melville

Date Posted:

January 8, 2019

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Tax planning

At this time of year we think about New Year’s resolutions. It is also a good time to start planning your tax affairs before the end of the tax year on 5 April 2019.

An obvious tax planning point would be to maximise your ISA allowances for the 2018/2019 tax year (currently £20,000 per person).

You might also want to consider increasing your pension savings before 5 April 2019, as any unused annual pension allowance is lost after three years.

For those looking to do some inheritance tax planning it would be a good time to review (or make) your Will.

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