HB Accountants Podcast: Episode 3 Year End Tax Planning Tips for Individuals

Following the success of our previous episodes, HB Accountants is excited to announce Episode 3 of our podcast series: Year End Tax Planning Tips for Individuals. This installment is dedicated to helping individuals navigate the complexities of personal tax planning as the fisccal year draws to a close.

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Maximising Tax Efficiency: The Ultimate Guide to Year-End Financial Planning by HB Accountants

As we near the end of the tax year on 5 April 2024, it’s essential to take stock of your family and business finances. Although tax rates and thresholds remain stagnant, the government’s tax revenue keeps climbing. Nonetheless, there are still plenty of practical ways to manage your affairs tax-efficiently, and we’re here to guide you through some of these strategies.

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The Government have extended the £1 million AIA tax break to stimulate investment in UK manufacturing – are you making use of your annual investment allowance?

Does you business deal with Plant & Machinery? If yes are you making use of your annual investment allowance?

If your business deals with plant and machinery, you might be entitled to use your Annual Investment Allowance (AIA). You could claim up to 100% tax relief on any qualifying plant and machinery assets in the first year of purchase, that are bought outright – not leased. The criteria for these assets are quite rigorous, and exclude cars, but it’s worthwhile checking with your accountant to see if your business qualifies.

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