Your tax year-end 2023/24 hub
Are you ready for tax year-end? It’s not too late to take full advantage of the reliefs and allowances available to you before the end of this tax year on 5 April.
Days left until the end of the tax year
What are the tax-efficient building blocks to take advantage of this tax year?
From laying a foundation and helping to secure your and your family’s financial future to retiring in style or planning to pass on your wealth, there are tax-efficient building blocks
that can help you get closer to your goals.
Individual savings accounts (ISAs)
Personal savings allowance
Pensions
Inheritance tax (IHT)
Capital gains tax (CGT)
Dividends
Don’t get caught in the 60% Tax Trap!
It’s often thought that the highest UK tax rate is 45% but that’s not the case. If you earn more than £100,000 per year, you could be taxed at a rate of 60% on income between £100,000 and £125,140.
CGT: How can I make use of my annual redemption before it’s reduced?
The Capital Gains tax free allowance for 2023/24 is now £6,000, and is due to reduce to £3,000 in 2024/25.
Which is better for retirement? Pensions or ISAs?
The main differences between pensions and ISAs is tax relief and when funds can be drawn. So, how do they compare?
Your tax year-end checklist – Use it or lose it!
It’s not too late to take full advantage of the reliefs and allowances available to you before the end of this tax year on 5 April. Here’s a checklist of the key opportunities to consider before the deadline.
Partners in your life journey
As a partner for life, we’re with you at every step on your financial journey. So, you’ll be empowered to do what you want, when you want – from buying a new home or planning a dream holiday, to providing for your children or retiring early.
Our 3-stage approach can help us understand the results you want, when you want them and how you want to get there, so we can help you with your investment planning and achieve your financial goals.
The value of an investment with St. James’s Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested
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Understanding what matters most to you
We look at your current financial situation and any plans you have in place to understand what matters to you, the lifestyle you want to live and the various milestones you would like to achieve. We can then plan the approach that works best for you.
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Developing a bespoke plan
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Achieving your goals
The home on which the mortgage is secured may be repossessed if repayments are not maintained
The value of an investment with St. James’s Place will be directly linked to the performance of the funds you select, and the value can therefore go down as well as up. You may get back less than you invested.
The levels and bases of taxation, and reliefs from taxation, can change at any time and are generally dependent on individual circumstances.
*Will writing involves the referral to a service that is separate and distinct to those offered by St. James’s Place and along with Trusts are not regulated by the Financial Conduct Authority.
Contact us
Do you have a question about your finances, or want to know more about savings or investment planning? Get in touch today and let us help you put your finances in focus and achieve your financial goals.