The end of the tax year is fast approaching. With an eye on the changes that will be made from 6 April 2016, Young & Co have produced a tax card showing the new rates and allowances for the 2016/17 tax year. A copy of this can be downloaded from here; Young & Co – Hereford Accountants UK Tax Card 2016 2017.
Don’t forget that there are only a few days left to make use of your 2015/16 allowances. These include:
- Pension contributions, especially for higher rate taxpayers;
- ISA and Junior ISA allowances;
- Check Capital Gains on share portfolios and make use of the annual exempt amount and any uncrystallised losses;
- Make use of the annual Inheritance Tax gift allowance of up to £3,000;
- Consider taking extra dividends ahead of the tax increases from 6 April;
If you have any questions, we would be happy to speak to you.