How can it be the end of another tax year? The pandemic seems to have sucked us all into some sort of time, space anomaly where 12 months seems to drag and flash by at the same time. But the end of the tax year it is, and we must check we are in a good state to wave goodbye to 2020/21 and hello to 2021/22. We know you are all short on time so here is a quick guide to the things to tick off before its too late.
1 Use your ISA allowance
Everybody has an ISA allowance of £20,000 for the 2020/21 tax year. Your children have their own allowance of £9,000 each p.a. too. If you aren’t aware of the different types and want to get up to speed quickly why not take a look at our recent ISA article: Are you up to speed with ISA’s >
Of course, you do have another ISA waiting for you in the next tax year but if you don’t use this one you WILL lose it.