The Last Day of the (Tax) Year

Today is the last day of the current tax year. If this has crept up on you, you’re not alone.

The most popular last minute decision is to use this last chance to shelter £15,240 in an ISA. This is where your money can grow free of income or capital gains tax.

With pensions, your personal allowance is £40,000 each year (unless you’re a high earner) and if you miss this year’s deadline you can carry forward the unused allowance for another three years. But it doesn’t work that way with Isas – these tax-efficient wrappers are known as a “use it or lose it” benefit.

This blog is not advice, should you need any assistance, please feel free to call the team on 0116 254 2255