Year end tax planning 24/25: Our definitive guide
Welcome to our year end tax planning guide
James Kipping, Partner, Private Client Tax
The timeframe is set and the clock is ticking - ensure you make the most of the tax breaks and investment options available before the end of this financial year.
In this guide, we take you through all the latest tax rates and updates and offer practical advice on how to maximise tax allowances and take advantage of other planning opportunities before 5 April 2025, whether you are a business owner or a private individuals.
Dip into each of the different areas of tax and financial planning to learn more, and please don’t hesitate to contact us for further guidance.
You can find out more about the authors of each article here.
Which Corporate Tax Rates Will Change in 2025?
"In conjunction with the upcoming Industrial Strategy and review to simplify the transfer pricing regime, it is hoped that the Corporate Tax Roadmap will encourage investment."
Stability and continuity were the key themes from the Chancellor in the Autumn Budget 2024. In this article, we review the expected impact in 2025 of the newly introduced corporate tax roadmap as well as the latest for corporation tax, quarterly instalment payments, capital allowances and R&D.
Understanding Capital Gains Tax in 2025
"The CGT annual exemption for 2024/25 is £3,000 per person – it is a ‘use it or lose it’ exemption and cannot be carried forward to future years."
Capital Gains Tax (CGT) applies to gains made on the disposal of a chargeable asset. There are exemptions and reliefs available for CGT and this article provides a comprehensive overview of those and other strategies.
The Importance of Tax Efficient Investments in 2025
"As inflation and rising incomes push more individuals into higher tax brackets without any adjustment to thresholds, the hidden cost of inaction grows steadily."
With tax thresholds frozen until at least April 2028, a policy move often referred to as the “fiscal drag”, the importance of tax efficient investing has never been more pronounced. In this shifting economic landscape, understanding and leveraging tax efficient investments as part of your financial plan can ensure your money works harder for you in the years ahead. This article summarises several tax efficient investments to consider.
Income Tax Planning in 2025: How to make the most out of opportunities
"Consider whether sufficient income can be generated to fully utilise the personal allowance and basic rate band. This may be done by careful planning of the timing of dividends from a private company or distributions from a family trust."
When it comes to year-end tax planning, consideration should be given to the different areas of income tax to ensure all allowances are maximised. In this article, we look into the rates and allowances available for the current tax year.
How To Get the Most From Your Pension in 2025
"From 6 April 2027, the majority of death benefits will form part of the deceased member’s estate for inheritance tax purposes. Following consultation, proposed changes are likely to evoke planning requirements for pension holders."
Pensions are a tax efficient way of saving for your future and should always be considered as part of your year-end tax planning activities. In this article, we set out what you need to know about pensions in 2025, and highlight planning opportunities.
Meet our authors
Contact us
For further guidance on your tax planning in 2025, please contact us and we will be happy to assist.
