Have you used your 2020-21 tax year allowances in the most efficient way?

14 January 2021, updated 23/3/21

As we welcome in the new calendar year, don’t forget that the end of the tax year (5 April 2021) is fast approaching; a good time for you to consider undertaking some tax planning.

At this point in the year, some of the key questions you could be asking yourself include:

• Have I made the most of my ISA allowance?

• What about my annual £3,000 (or £6,000 for married couples) gifting allowance?

• Have I topped up my pension contributions before the deadline?

• Do I qualify to receive £2000 worth of dividends tax free?

• Have I checked that my children’s ISA accounts have made use of their tax free allowance?

If you’d like to explore having some help with tax planning, we can arrange a free initial conversation to explore tax planning options for you, with absolutely no obligation.

Contact us here to make an appointment.

This article was written by Culverhouse Financial Planning Ltd.

The article outlines just some of the things you could consider in relation to tax planning. It does not represent financial advice. If you would like personalised financial advice please contact a financial adviser.

Remember that the value of investments can fall as well as rise and past performance is not a guide to future performance.

Taxation is based on current legislation which is subject to change and will also depend on the individual circumstances of each investor.