The 2021/22 tax year ends on Monday 5 April 2022. This is the date when many allowances reset, and it could be your last opportunity to make use of some of them.
Keeping track of how you’ve used your allowances can reduce your tax liability and help you boost your wealth. Reviewing your finances ahead of the tax year end could reduce the amount of tax you pay and improve your financial security in the future.
This guide covers seven allowances and exemptions you should consider making use of to ensure you’re ready for the new tax year:
- ISA allowance
- Marriage Allowance
- Pension Annual Allowance
- Dividend Allowance
- Capital Gains Tax annual exempt allowance
- Inheritance Tax annual exemption
- Gifts from your income.
Download your complete 2021/22 end of tax year guide to learn more about these allowances and exemptions. If you’d like help preparing for the end of the tax year, please contact us.