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Annual Tax allowances – use them or lose them

5th April is the end of the tax year.  Now is the time to get around to using those tax allowances, before you lose them – e.g. 

Gift Allowance – £3,000 

Capital Gains – £12,000 

Pension Contributions  

  • £3,600 for anyone 
  • £40,000 for those earning less than £150,000 

Employee benefits 

  • £300 – trivial benefits for Directors and their household 
  • £150 – annual staff functions 

Savings 

  • Interest – £1000 for basic rate taxpayers, £500 for higher rate taxpayers 
  • ISA – £20,000 
  • Lifetime ISA – £4,000 

 

 

 

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