CHECKLIST: LAST MINUTE TAX SAVING IDEAS FOR END OF TAX YEAR

Wondering what you can do to save some last minute tax? Well watch on!
Topics include:

✅Make use of your personal tax-free allowance
✅ Make any gift aid donations
✅ Consider if marriage allowance is appropriate and usable
✅ Consider using your Capital Gains annual allowance
✅ Consider bringing forward any investment in new equipment or other items you may need in the coming months
✅ If you are a sole trader using the ‘cash basis’ tax calculation, consider bringing forward expenditure you were already going to be doing in the coming months
✅ Consider if you need to make any pension contributions
✅ For limited company owners, review if you’ve used your trivial benefits ‘allowance’
✅ For limited company owners, review your director’s payroll
✅ For limited company owners, ensure you’ve used your £500 dividend allowance
✅ Consider ISA allowances and other tax-reliving investments
✅ Consider gifting excess money…
✅ Think about Child Benefit claims
✅ Gather and update your records!


… and more!
If you have any questions or thoughts on this, please comment below.

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Download spreadsheet mentioned here:

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00:00 Intro
01:04 Personal allowances
02:40 Gift Aid
03:11 Marriage allowance
04:08 Capital Gains allowances
05:23 Bringing forward expenditure
07:26 Pensions
09:37 Directors' salaries
11:59 ISAs
13:29 Gifting money
13:58 Child benefit
15:15 Ultimate tax saving

#accounting #smallbusinessuk #tax

Note: As always, these videos are educational and should not be considered financial advice. Seek professional advice on your specific situation.

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