Use it or Lose it!

Sorry but time has run out for us to be able to help you for the 2020/21 tax year as the deadline has passed. However, that does mean that your new allowances for 2021/22 are available. See below for details. Remember, down the line tax rules are likely to be much nastier so ring-fencing what you can whilst tax rates are generous is likely to be wise! The sooner you use the allowances, the longer you’ll have to enjoy the benefits so what are you waiting for?!

1. Have you used your ISA Allowance yet (£20,000 each)? If you have lots of capital and are in the ‘Must’ camp rather than the ‘that’d be nice’ camp, then make sure you do it!

2. Have you maximised your Personal Pension contributions? Even if you are in a company or State scheme, you can pay-in more and every £1 you contribute to a personal pension is boosted immediately by 25%! If you are 55, you can have instant access to it too (of course it may be foolish to do that)! If you pay 40%+ tax then you receive extra relief!

3. If you are under 75, even if you have no earnings and are not working, you can contribute £2,880 to a Personal Pension and the Taxman will give you £720.

4. If you have sizeable assets, pregnant with chunky, taxable gains, make sure you use your full CGT allowance which is £12,300 each.

5. If you have significant capital and Inheritance Tax is an issue, have you made donations to family and friends? Don’t forget too you can invest for say grandchildren and we can set-up a collective pot for you where you still control the capital and its access.

And don’t forget – with pensions and ISAs, make your investments EARLY in future years too, so repeat the exercise annually soon after 6 April! (Remembering too that subscriptions to our strategies cost absolutely NO initial fee, NO commission and NO advisory charge either). Full details of any and everything will be sent to you of course and full terms are on the website. We now manage over £205million for people just like you. The fair management fee we receive for looking after and managing that pot is what pays most of our bills and allow us to have such attractive terms for clients!