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Getting ahead – Tax year end


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Getting ahead – Tax year end

5 April marks the end of the Tax Year, encouraging investors to make the most of their finances and utilise any unused allowances.

Hayley Spendlove
Hayley Spendlove

Key changes are coming into effect, and it’s important to understand them as this may impact your financial planning – influencing how you manage your money and achieve your desired lifestyle for the future.

Capital Gains Tax

Capital Gains Tax (CGT) is the tax you pay when selling an asset that may have increased in value, such as shares, a second home, or a piece of art. From 6 April, the annual allowance will be reduced from £12,300 to £6,000, before being reduced to £3,000 in 2024/2025.

Dividend Allowance

Dividends are the profits paid out by limited companies to their shareholders. From 6 April the annual dividend allowance will be reduced from £2,000 to £1,000, with further reductions planned again for the following year.

With these key changes taking place, it is important to make the most of your allowances elsewhere. Making the most of your Pension and ISA investments allows you to save and invest tax-efficiently. 

Individual Savings Account

An Individual Savings Account, or ISA, allows individuals to save or invest up to £20,000 tax-free, in any given tax year. If you are willing to take risk for a potentially higher return, a Stocks and Shares ISA could be a suitable option. With an ISA, you can make one-off or regular contributions, whilst earning interest on your savings without being subject to CGT or Dividend Tax.

Unlike a Pension, the allowance cannot be ‘carried forward’, but you can open a new ISA each tax year.


A pension is a tax-efficient way of saving money for retirement. 

From 6 April, the annual tax-free pension allowance will increase from £40,000 to £60,000. Unlike an ISA, investors can carry forward their annual allowance from the three previous tax years if unused. Choosing to invest more in your pension could potentially reduce Inheritance Tax (IHT), as IHT thresholds are frozen until the 2028/29 tax year.

When it comes to managing finances, it is important to work with an experienced professional. Our team of Chartered investment managers invest on behalf of clients across the UK, whilst working in conjunction with third party advisers.


The value of your investments and income arising from them can fall as well as rise in value and you might get back less than you invest.

The information contained herein does not contain and should not be construed as tax advice. Investors should independently assess, with professional financial, tax, legal and accountant advisors, the specific financial risks as well as legal, regulatory, credit, tax and accounting consequences. Information correct at time of writing, UK Tax regime is subject to change.