Tax Allowances
Tax Allowances
Have you utilised your Tax Allowances?
As the end of the tax of year is fast approaching on the 5th April 2024, here's are reminder of the main Tax Allowances below.
Investments
Cash / Stocks & Shares ISAs: £20,000
Lifetime ISA: £4,000
Others (permitted maximums)
VCT: £200,000
EIS: £1,000,000
Seed EIS: £200,000
Pensions
Annual Allowance: £60,000
Money Purchase Annual Allowance: £10,000
Capital Gains Tax
Allowance for individuals & estates: £6,000
Trusts generally: £3,000
Inheritance Tax
Nil rate band: £325,000
Residence Nil rate band: £175,000
We are happy to help facilitate any of the above. Give us a call on 01267 238844.