Guide: 7 allowances you might want to use before the end of the 2023/24 tax year

When a new tax year starts, many allowances reset. So, checking if you could make use of allowances before Friday 5 April 2024, when the 2023/24 tax year ends, might be valuable.

This guide explores some of the allowances that could help your money go further. You might discover you could reduce your Income Tax liability by using the Marriage Allowance or find a tax-efficient way to save for your long-term goals by using an ISA or pension.

The guide explains seven key allowances:

  1. Marriage Allowance
  2. ISA allowance
  3. Junior ISA allowance
  4. Dividend Allowance
  5. Capital Gains Tax Annual Exempt Amount
  6. Pension Annual Allowance
  7. Inheritance Tax annual exemption.

Download “7 allowances you might want to use before the end of the 2023/24 tax year” to learn if you could potentially reduce your tax bill.

If you have any questions about which allowances are suitable for you or would like to create a plan for 2024/25, please contact us.

Please note: HM Revenue and Customs practice and the law relating to taxation are complex and subject to individual circumstances and changes, which cannot be foreseen.

Approved by The Openwork Partnership on 22/12/2023.

News

Stay in the loop

Keep up to date with industry insights and company developments by signing up to our free bi-monthly newsletter.

    The internet is not a secure medium and the privacy of your data cannot be guaranteed.
    News

    8 fantastic reasons to support local causes for Small Charity Week

    Read more
    News

    The essentials you need to know about critical illness cover

    Read more
    News

    How to calculate what’s “enough” when selling your business

    Read more
    News

    ESG for beginners: The basics you need to know about ESG investing

    Read more
    News

    4 compelling reasons you might want to consolidate your pension

    Read more
    News

    The value of financial planning: 5 fantastic ways tailored advice may help grow your wealth

    Read more
    News

    The essential guide to mortgages

    Read more
    News

    Guide: 7 valuable behaviours for successful investing

    Read more
    News

    Everything you need to know about lifetime mortgages

    Read more
    News

    3 valuable ways business owners could extract profits

    Read more
    News

    5 practical tips that could help you set realistic financial goals

    Read more
    News

    More retirees may need to consider tax liability as State Pension nears the Personal Allowance

    Read more
    Contact us

    We’re here to help

    Leave us a message and we’ll be right back in touch.

      The internet is not a secure medium and the privacy of your data cannot be guaranteed.

      Get in touch

      01252 979673 admin@johnsonwealthsolutions.com
      11 Kings Rd,
      Fleet,
      Hampshire,
      GU51 3AA