Year End Tax Planning Guide 24/25

With the closure of the 24/25 tax year approaching on April 5, 2025, there remains an opportunity to assess your tax strategies and capitalise on current year-end possibilities. Inform Accounting's Year End Planning Guide offers counsel and tactics to ready yourself for the financial year's end, maximising available tax allowances and reliefs.

This comprehensive guide furnishes insights into actionable strategies and opportunities beneficial for both business and personal financial planning to navigate through the remainder of the tax year.

This guide is here to help you navigate the financial year-end with confidence, ensuring you take full advantage of available benefits. The 2024 tax year introduces significant changes following the newly elected Labour government’s Autumn Budget. As you review your finances, keep these key updates in mind:

• A further reduction in the capital gains tax annual exemption
• Another decrease in the Dividend Allowance
• An increase in Employer’s National Insurance Contributions (NICs)
• Pending reforms to Inheritance Tax

It's essential to peruse this guide, which also outlines planning potential in areas such as:

• Income tax rates and allowances
• Tax implications for families
• Strategies for director-shareholders in family companies
• Pension planning
• Optimising savings and investments
• Understanding capital gains tax rules and upcoming alterations
• Effective utilisation of gift aid

Make use of this year-end checklist to ensure comprehensive financial planning.