Consider Use All Tax Allowances or Lose Before Tax Year End

Published / Last Updated on 22/02/2020

Pension tax relief may come under attack in the Budget

Dividend tax rates may come under attack in the Budget

A new Wealth tax relief may arrive

Make sure you use up your

  • Pension Allowances, tax relief and unused years relief (carry forward)
  • Capital Gains Tax Allowance e.g. on shares and sell, buy, bed and breakfast, bed and ISA, bed and SIPP overnight
  • Make sure you use your £3,000 annual inheritance tax gifting allowance, you can gift more if you wish but it is £3,000 that drops outside the estate immediately, and the rest must wait for 7 years to drop outside the estate.
  • ISA Allowance £20,000, Junior ISA allowance £4,368.  Use them or lose them.

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