Beat the queues this Tax Year-End

Beat the queues this Tax Year-End

Christmas and the New Year seem like distant memories, and already, another important date is looming in our calendars. We’re sorry to disappoint you but it’s not Valentine’s Day that we’re talking about. It’s… wait for it… *drum roll*… TAX YEAR-END!

The weeks/month leading up to Tax Year-End on April 5th are among the busiest months for financial advisers, as they strive to ensure their clients do not miss out on potentially valuable tax benefits. Tax Year-End is a chance for clients and prospects alike to reflect on their financial affairs of the last 12 months and look forward to the year ahead.

With that being said, the most important question you will hear in the run-up to Tax Year-End is, ‘have you used all of your tax allowances?’

Take Sarah for example. Sarah is self-employed and on track to earn £65,000 this financial year (or by Tax Year End). With talk that the government is going to lower the threshold for the higher rate of tax to those earning £50,000 or more, Sarah will have £15,000 that will be taxed at that higher rate.

However, Sarah is also saving into a pension fund. If she were able to take that £15,000 and put it in her pension, the government would allow her to deduct that from her total earnings in allowance, meaning she would not have to pay the higher rate of tax.

This is just one example of taking full advantage of an allowance. From pension contributions to Capital Gains Tax. From ISA allowance to Inheritance Tax, it’s important not to let your tax allowances go to waste.

So, if you want to discuss how you can best manage your affairs before Tax Year-End, get in touch with your Financial Adviser. Like so many things, getting ahead of the queues enables you to make the most of what you have.



The value of an investment with St. James’s Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than the amount invested.

The levels and bases of taxation, and reliefs from taxation, can change at any time and are generally dependent on individual circumstances.

Eight Wealth Management Ltd is an Appointed Representative of and represents only St. James’s Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the Group’s wealth management products and services, more details of which are set out on the Group’s website at The ‘St James’s Place Partnership’ and the titles ‘Partner’ and ‘Partner Practice’ are marketing terms used to describe St. James’ Place representatives.