Market update
- Geopolitical developments added to market unease: President Trump’s interest in buying Greenland revived an issue that has previously tested relationships with US allies, while reports from Iran pointed to escalating unrest and ongoing protests. Markets remained resilient despite these pressures, though investors approach upcoming economic data with care.
- Stronger than expected UK GDP (Gross Domestic Product) rebound.
- UK inflation rose to 3.4% in the year to December – the first increase in five months and higher than expected.
Get ready for tax year end As the UK tax year draws to a close on 5 April, it’s a good idea to get ahead of the curve and start thinking about what you could be doing to save a little extra money and potentially reduce your tax liability.
10 smart steps before 5 April
Let’s face it, who doesn’t want to save some money and see if they can pay less tax, especially when it feels as if the price of everything keeps going up.
The end of the tax year is an opportunity to tidy up your finances and make smart, tax-efficient decisions. So here are our top 10 key actions to consider before the deadline:
- Maximise your yearly ISA allowance – or lose it
- Review and consider transferring your ISA
- Make the most of your pension allowance, potentially reducing tax at the same time
- Check your savings are working efficiently
- Plan for Capital Gains Tax
- Give a ‘gift’ to reduce your inheritance tax liability
- Review your expenses if you’re self-employed or running a business
- Use your personal allowances wisely
- Contribute to a Junior ISA
- Review your income and tax bands
Don’t leave it too late – take action to make the most of what’s available.
Here to help
We appreciate tax year end planning can be quite complex, depending on your personal circumstances. Get in touch if you’re interested in maximising your allowances and reducing the tax you may need to pay. We’re here to help.
This information is based on our current understanding of taxation law and practice in the UK. Tax rules can change and the impact of taxation, and any tax relief, depends on your personal circumstances and where you live.
Prioritise your financial wellbeing
What does January mean to you? For some, it’s a month of fresh starts, new routines and good intentions – from Dry January, Red January and Veganuary, to a renewed relationship with the gym.
For others, it’s a quieter period, especially if the festive season has left finances feeling stretched. Whatever January represents for you, it’s a natural moment to reflect, reset and look ahead with positivity.
It’s also an ideal time to think about your financial wellbeing. With the end of the tax year approaching, reviewing your savings, investments, allowances and goals now can help set you up for a stronger, more confident year.
If you have any questions about this email, or anything else, please get in touch – I’m here to help.