The beginning of a new year signals the closing of the financial tax year. As the 5th of April for the 2019/20 tax year looms many will want to check if they have made the most of their annual allowances, reliefs and exemptions that could help reduce their tax bill. Leaving the end-of-year tax planning until the last minute means that some allowances are not used up and the sooner you claim them the better. Some of the main areas to consider if appropriate to your particular situation can include but are not necessarily limited to: ISA allowances, pension contributions, inheritance tax and capital gains allowance.
