And we’re off…

For many people, tax year planning ranks as one of those tiresome yet necessary tasks that must be completed no matter what. Without it, investments can wither, profits become stifled and tax contributions far exceed what they would do than if you’d planned efficiently. Luckily, it’s never too late for tax planning, and what better time to start than the beginning of the tax year.

There are a great many aspects to take into consideration, but by getting on top of your finances early rather than waiting until Q4 and beyond to execute your strategy, you’ve got a more realistic chance of achieving your goals and avoiding a huge tax bill – not to mention that it’s far less stressful. Checking your allowances and options in advance will also help you to maximise any potential benefits available to you, ensuring optimal return with minimal losses.

To achieve the best results and make your tax bill as efficient as possible for the tax year 2018/19, it might be worth considering the following: Are your current investments effective? Are you taking advantage of new financial products? Are you on top of your tax bill? Are you utilising all the tax relief options available to you? Are your financial records up to date? And are you making the most of savings vehicles?