{"id":361162,"date":"2026-08-01T05:17:06","date_gmt":"2026-08-01T05:17:06","guid":{"rendered":"https:\/\/peraltafinancing.com\/accounting\/end-of-year-tax-planning-tips-accountants-tax-business-advisers\/"},"modified":"2026-08-01T05:17:06","modified_gmt":"2026-08-01T05:17:06","slug":"end-of-year-tax-planning-tips-accountants-tax-business-advisers","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=361162","title":{"rendered":"End of Year Tax Planning Tips – Accountants | Tax & Business Advisers"},"content":{"rendered":"


\n<\/p>\n

\n
\n

\nEnd of Year Personal Tax Planning Tips <\/h2>\n<\/p>\n<\/section>\n

\n<\/h3>\n

Each March, Pillow May carries out a 360\u00b0 purposeful financial review designed to deliver value far beyond your annual tax return. This holistic review ensures remuneration has been taken efficiently and considers your wider financial position and goals.<\/p>\n

Considering the below factors alongside your personal situation, we recommend the most effective and appropriate way to structure your finances and set a clear, personalised remuneration and tax planning strategy for the current tax year and new tax year giving you clarity and confidence that your finances are working to support the life you want.<\/p>\n

    \n
  1. Make the Most of Your Tax-Free Allowances<\/strong>
    \u2022 Personal Allowance: Up to \u00a312,570 tax-free income (lost once income exceeds \u00a3100k).
    \u2022 Dividend Allowance: Up to \u00a3500 tax-free dividends.
    \u2022 Personal Savings Allowance:
    \u2022 \u00a31,000 for basic rate taxpayers
    \u2022 \u00a3500 for higher rate taxpayers
    \u2022 Not available for additional rate taxpayers.
    \u2022 Starting Rate for Savings: Up to \u00a35,000 tax-free interest if other income is below \u00a316,850.<\/li>\n<\/ol>\n
      \n
    1. Use Special Allowances for Extra Income<\/strong>
      \u2022 Rent a Room Scheme: Up to \u00a37,500 tax-free from letting furnished accommodation.
      \u2022 Property Allowance: Up to \u00a31,000 tax-free on rental income (not if you use Rent a Room).
      \u2022 Trading Allowance: Up to \u00a31,000 tax-free from casual or self-employed income.
      \u2022 Marriage Allowance: Transfer 10% of your Personal Allowance to a basic rate spouse.<\/li>\n<\/ol>\n
        \n
      1. Maximise Pension Contributions<\/strong>
        \u2022 Up to \u00a32,880 tax-relieved contributions regardless of earnings.
        \u2022 Otherwise, up to 80% of earnings, capped at \u00a348,000.
        \u2022 Carry forward unused allowances from previous years.
        \u2022 Higher earners can save up to \u00a327,000 in tax.
        \u2022 Pension now included in your estate on death from April 2027<\/li>\n<\/ol>\n
          \n
        1. Use Your ISA Allowance<\/strong>
          \u2022 Save up to \u00a320,000 tax-free in an ISA.
          \u2022 Choose between Cash ISAs or Stocks & Shares ISAs.
          \u2022 Platforms like https:\/\/www.nutmeg.com\/ make investing accessible.
          \u2022 Any investments made under enterprise schemes that give additional tax relief<\/li>\n<\/ol>\n
            \n
          1. Plan Capital Gains Carefully<\/strong>
            \u2022 Up to \u00a33,000 tax-free gains each year.
            \u2022 Spread asset sales across tax years.
            \u2022 Could any of the gains be eligible for relief?
            \u2022 Record losses to offset future gains.
            \u2022 CGT applies to gifts, including passing assets to family.
            \u2022 Capital gains tax liability at 14%, 20% or 24% depending on the type of asset and whether a basic or higher rate taxpayer.<\/li>\n<\/ol>\n
              \n
            1. Avoid the High Income Child Benefit Charge<\/strong>
              \u2022 Income over \u00a360,000 triggers clawback.
              \u2022 Full clawback at \u00a380,000.
              \u2022 Reduce adjusted net income with Gift Aid or pension contributions.<\/li>\n<\/ol>\n
                \n
              1. Keep Track of Gift Aid Donations<\/strong>
                \u2022 Donations are tax-free (and therefore can reduce tax payable) if:
                \u2022 Made via Gift Aid
                \u2022 Through Payroll Giving
                \u2022 As land, property or shares
                \u2022 In your will
                \u2022 Ensure you\u2019ve paid enough tax to cover Gift Aid claimed.<\/li>\n<\/ol>\n
                  \n
                1. Gifts to reduce your estate<\/strong>
                  \u2022 Annual exemption of \u00a33,000
                  \u2022 Start 7 year clock running<\/li>\n<\/ol>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"

                  End of Year Personal Tax Planning Tips Each March, Pillow May carries out a 360\u00b0 purposeful financial review designed to deliver value far beyond your annual tax return. This holistic review ensures remuneration has been taken efficiently and considers your wider financial position and goals. 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