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Year End Tax Planning

There are lots of things you can do to reduce tax, protect assets or provide an income in later years or in a crisis. These opportunities can be complex to understand and may not suit everyone.

This list is designed to get you to contact us, if you feel you might fit a particular set of circumstances and we feel there may be a tax planning opportunity or income/asset protection opportunity available to you.

If any of these questions encourage you to find out more, please get in touch. A lot of these planning ideas are time sensitive, and will need rapid action to make a saving:


  • Do you or your family have spare cash that could be invested in a tax free ISA (Individual Savings Account) account?
  • Is your income expected to be over £100,000 this tax year? You may be able to use pensions to significantly reduce your tax liability.
  • Do you have spare cash to invest in a pension for your children or grandchildren? They don’t even need to pay tax themselves to benefit!
  • Is you or your spouse’s income over £50,000 and do you have young children? You may be able to use pension contributions to avoid clawback of Child Benefit.
  • Could you sell or transfer assets (usually shares or property) to utilise your Capital Gains Tax allowance?
  • Could you make tax free gifts or Potentially Exempt Transfers to reduce your estate subject to Inheritance Tax?
  • Have you made a will? This is a must, if you have assets to bequeath.
  • If you are a main earner in your household, do you have adequate income protection and life insurance to help in a crisis?
  • Do you contribute to a pension and do you use this as a tax planning tool? You do not need to be a higher rate taxpayer to access pension tax relief.
  • Are you saving for your first house, and do you use the Lifetime ISA to do this? You could be missing out on government support for future first time buyers.
  • Do you trade as a sole trader or partnership, but hold significant wealth in personal assets (house, investments, etc.)? Would you consider switching to a limited company to give a greater level of protection from the risk those personal assets are exposed to?


Everybody’s circumstances are different. If anything in the above list has sparked your interest, please give us a call: 01723 366102

Get in touch to find out how we can help your business.