{"id":71952,"date":"2019-03-18T09:05:41","date_gmt":"2019-03-18T09:05:41","guid":{"rendered":"https:\/\/www.templewealth.co.uk\/?p=71952"},"modified":"2019-03-18T09:05:42","modified_gmt":"2019-03-18T09:05:42","slug":"tax-year-end-planning","status":"publish","type":"post","link":"https:\/\/www.templewealth.co.uk\/tax-year-end-planning\/","title":{"rendered":"Planning for the end of the 2019 tax year"},"content":{"rendered":"\n<p style=\"font-size:18px;text-align:center\"><b><span>W<\/span>ith the help of a financial adviser and some simple financial planning ahead of the tax year-end (5<sup>th<\/sup> April 2019) you can make the most of the tax allowances available to you such as your ISA and pension Annual Allowance.<\/b><\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img loading=\"lazy\" decoding=\"async\" width=\"4608\" height=\"3456\" src=\"https:\/\/www.templewealth.co.uk\/wp-content\/uploads\/2019\/03\/Biting-money.jpg\" alt=\"\" class=\"wp-image-71954\" \/><\/figure><\/div>\n\n\n\n<h4 class=\"wp-block-heading\">ISA allowance<\/h4>\n\n\n\n<p>You have a \u00a320,000 ISA allowance each tax year. This is a \u2018use it or lose it\u2019 allowance as it cannot be carried forward if it is not fully utilised. This allowance will remain at the same level in the 2019\/2020 tax year. <\/p>\n\n\n\n<p>There are 4 types of ISA and you\ncan put money into one of each kind of ISA each tax year:<\/p>\n\n\n\n<ul><li>Cash ISAs<\/li><li>Stocks and Shares ISAs<\/li><li>Innovative Finance ISAs <\/li><li>Lifetime ISAs<\/li><\/ul>\n\n\n\n<p>An ISA such as the Help to Buy\nISA can be beneficial if you are saving to buy your first home. First time\nbuyers get a 25% bonus from the Government on savings in a Help-to-buy ISA. The\nmaximum bonus you can receive is \u00a33,000 (if \u00a312,000 has been saved). <strong><em>The\ndeadline for opening a new Help to buy ISA is 30<sup>th<\/sup> November 2019.<\/em><\/strong><\/p>\n\n\n\n<p>With a Junior ISA,a UK child under 18 can currently save\nup to \u00a34,260 in one tax year.<\/p>\n\n\n\n<p>A financial adviser will be able\nto help you find the type of ISA most suitable for you and your investment\ngoals.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Pension Annual Allowance<\/strong><\/h4>\n\n\n\n<p>UK individuals can \u2018normally\u2019\ncontribute up to \u00a340,000 gross, or up to their annual gross income, per tax\nyear into a pension scheme. This allowance will remain at the same level in the\n2019\/2020 tax year. <\/p>\n\n\n\n<p>Funds are tax efficient within a\npension although the Lifetime Allowance (currently \u00a31,030,000) limits the total\namount you can accrue in a pension pot without an additional tax charge.&nbsp; <\/p>\n\n\n\n<p>You can take a look at our previous blog to\nfind out if you are making enough pension contributions.<\/p>\n\n\n\n<p>The Annual Allowance can be\ncarried forward, subject to a few rules. If you have been a member of a pension\nscheme but have not fully utilised your Annual Allowance for the previous three\ntax years, you could be able to carry this forward to make a larger\ncontribution in the current tax year. <\/p>\n\n\n\n<p>Tapered Annual Allowance \u2013 this is when the Annual\nAllowance is reduced by \u00a31 for every \u00a32 of \u2018adjusted income\u2019 over \u00a3150,000. It\ncan affect you if your income from all sources is over \u00a3110,000.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Inheritance Tax<\/strong><\/h4>\n\n\n\n<p>The Inheritance Tax (IHT) nil rate band is currently\nfrozen at \u00a3325,000 until 5<sup>th<\/sup> April 2021.<\/p>\n\n\n\n<p>Inheritance tax planning can enable you to utilise the\navailable exemptions including:<\/p>\n\n\n\n<ul><li>Annual\nExemption \u2013 up to \u00a33,000 can be given away each tax year and unused amounts can\nbe carried forward and utilised in the next tax year.<\/li><li>Small\nGifts Exemption \u2013 up to \u00a3250 can be gifted to as many people as you wish each\ntax year.<\/li><li>Gifts\nout of Income \u2013 you can gift regular disposable income if your income often\nexceeds your expenditure. <\/li><li>IHT\nefficient investments can benefit from business property relief and are then\nIHT exempt after being owned for two years. These investments can be high risk\nand financial advice should be sought. <\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Capital Gains\nTax&nbsp; <\/strong><\/h4>\n\n\n\n<p>The annual exemption for the current tax year is \u00a311,700.\nThis is also an allowance that cannot be carried forward if it is not fully\nutilised. Unused losses are carried forward and can be offset against future\ngains.<\/p>\n\n\n\n<hr class=\"wp-block-separator\" \/>\n\n\n\n<h2 class=\"wp-block-heading\" style=\"text-align:center\"><strong>2019\/2020 tax year \u2013\nchanges to some of these allowances <\/strong><\/h2>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Minimum\/Living Wage<\/strong><\/h4>\n\n\n\n<p>After 6<sup>th<\/sup> April 2019, the minimum wage for\n18-20 year olds will increase from \u00a35.90 to \u00a36.15 per hour. For 21-24 year olds\nit will increase from \u00a37.38 to \u00a37.70 and for anyone aged 25+ it will increase\nfrom \u00a37.83 to \u00a38.21 per hour. <\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Personal Allowance<\/strong><\/h4>\n\n\n\n<p>This will increase from \u00a311,850 to \u00a312,500 in the\n2019\/2020 tax year. <\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Lifetime allowance <\/strong><\/h4>\n\n\n\n<p>This will increase from\n\u00a31,030,000 to \u00a31,055,000 in the 2019\/2020 tax year.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>CGT Annual Exemption<\/strong><\/h4>\n\n\n\n<p>This will increase from \u00a311,700 to \u00a312,000 in the 2019\/2020 tax year. <\/p>\n\n\n\n<p style=\"background-color:#9f9162;text-align:center\" class=\"has-background\">One of our independent financial advisers at Temple\nWealth Management can advise you on how best to plan for the end of the tax\nyear, as well as how to fully utilise your available allowances in the new tax\nyear. <\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignleft\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"678\" src=\"https:\/\/www.templewealth.co.uk\/wp-content\/uploads\/2019\/03\/89EC010E-A35C-45B7-820F-0D4CCCF72A17-1024x678.jpeg\" alt=\"\" class=\"wp-image-71958\" \/><\/figure><\/div>\n\n\n\n<p style=\"background-color:#000000;color:#9f9162;font-size:24px;text-align:center\" class=\"has-text-color has-background\">To discuss your end of tax year planning needs, contact one of our advisers on 01329 282882 or use our website <a href=\"https:\/\/www.templewealth.co.uk\/contact-us\">contact form<\/a>. <\/p>\n\n\n\n<p style=\"text-align:left\" class=\"has-text-color has-background has-very-dark-gray-color has-very-light-gray-background-color\"><i>The value of your investment can go down as well as up and you may not get back the full amount you invested. Levels, bases of and reliefs from taxation may be subject to change and their value depends on the individual circumstances of the investor. The Financial Conduct Authority does not regulate Tax Advice.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>With the help of a financial adviser and some simple financial planning ahead of the tax year-end (5th April 2019) you can make the most of the tax allowances available to you such as your ISA and pension Annual Allowance. ISA allowance You have a \u00a320,000 ISA allowance each tax year. This is a \u2018use [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[31,25],"tags":[45,44],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Planning for the end of the 2019 tax year - Temple Wealth<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.templewealth.co.uk\/tax-year-end-planning\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Planning for the end of the 2019 tax year - Temple Wealth\" \/>\n<meta property=\"og:description\" content=\"With the help of a financial adviser and some simple financial planning ahead of the tax year-end (5th April 2019) you can make the most of the tax allowances available to you such as your ISA and pension Annual Allowance. ISA allowance You have a \u00a320,000 ISA allowance each tax year. This is a \u2018use [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.templewealth.co.uk\/tax-year-end-planning\/\" \/>\n<meta property=\"og:site_name\" content=\"Temple Wealth\" \/>\n<meta property=\"article:published_time\" content=\"2019-03-18T09:05:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-03-18T09:05:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.templewealth.co.uk\/wp-content\/uploads\/2019\/03\/Biting-money.jpg\" \/>\n<meta name=\"author\" content=\"Temple Wealth\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Temple Wealth\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.templewealth.co.uk\/tax-year-end-planning\/\",\"url\":\"https:\/\/www.templewealth.co.uk\/tax-year-end-planning\/\",\"name\":\"Planning for the end of the 2019 tax year - Temple Wealth\",\"isPartOf\":{\"@id\":\"https:\/\/www.templewealth.co.uk\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.templewealth.co.uk\/tax-year-end-planning\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.templewealth.co.uk\/tax-year-end-planning\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.templewealth.co.uk\/wp-content\/uploads\/2019\/03\/Biting-money.jpg\",\"datePublished\":\"2019-03-18T09:05:41+00:00\",\"dateModified\":\"2019-03-18T09:05:42+00:00\",\"author\":{\"@id\":\"https:\/\/www.templewealth.co.uk\/#\/schema\/person\/62d507753c274f2ec66e7bea56ffe74a\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.templewealth.co.uk\/tax-year-end-planning\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.templewealth.co.uk\/tax-year-end-planning\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.templewealth.co.uk\/tax-year-end-planning\/#primaryimage\",\"url\":\"https:\/\/www.templewealth.co.uk\/wp-content\/uploads\/2019\/03\/Biting-money.jpg\",\"contentUrl\":\"https:\/\/www.templewealth.co.uk\/wp-content\/uploads\/2019\/03\/Biting-money.jpg\",\"width\":4608,\"height\":3456},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.templewealth.co.uk\/tax-year-end-planning\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.templewealth.co.uk\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Planning for the end of the 2019 tax year\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.templewealth.co.uk\/#website\",\"url\":\"https:\/\/www.templewealth.co.uk\/\",\"name\":\"Temple Wealth\",\"description\":\"Your Financial Partner For Life\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.templewealth.co.uk\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.templewealth.co.uk\/#\/schema\/person\/62d507753c274f2ec66e7bea56ffe74a\",\"name\":\"Temple Wealth\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.templewealth.co.uk\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/6650f8a880dc0b6fdc21495e748aa841?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/6650f8a880dc0b6fdc21495e748aa841?s=96&d=mm&r=g\",\"caption\":\"Temple Wealth\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Planning for the end of the 2019 tax year - Temple Wealth","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.templewealth.co.uk\/tax-year-end-planning\/","og_locale":"en_US","og_type":"article","og_title":"Planning for the end of the 2019 tax year - Temple Wealth","og_description":"With the help of a financial adviser and some simple financial planning ahead of the tax year-end (5th April 2019) you can make the most of the tax allowances available to you such as your ISA and pension Annual Allowance. ISA allowance You have a \u00a320,000 ISA allowance each tax year. This is a \u2018use [&hellip;]","og_url":"https:\/\/www.templewealth.co.uk\/tax-year-end-planning\/","og_site_name":"Temple Wealth","article_published_time":"2019-03-18T09:05:41+00:00","article_modified_time":"2019-03-18T09:05:42+00:00","og_image":[{"url":"https:\/\/www.templewealth.co.uk\/wp-content\/uploads\/2019\/03\/Biting-money.jpg"}],"author":"Temple Wealth","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Temple Wealth","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.templewealth.co.uk\/tax-year-end-planning\/","url":"https:\/\/www.templewealth.co.uk\/tax-year-end-planning\/","name":"Planning for the end of the 2019 tax year - Temple Wealth","isPartOf":{"@id":"https:\/\/www.templewealth.co.uk\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.templewealth.co.uk\/tax-year-end-planning\/#primaryimage"},"image":{"@id":"https:\/\/www.templewealth.co.uk\/tax-year-end-planning\/#primaryimage"},"thumbnailUrl":"https:\/\/www.templewealth.co.uk\/wp-content\/uploads\/2019\/03\/Biting-money.jpg","datePublished":"2019-03-18T09:05:41+00:00","dateModified":"2019-03-18T09:05:42+00:00","author":{"@id":"https:\/\/www.templewealth.co.uk\/#\/schema\/person\/62d507753c274f2ec66e7bea56ffe74a"},"breadcrumb":{"@id":"https:\/\/www.templewealth.co.uk\/tax-year-end-planning\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.templewealth.co.uk\/tax-year-end-planning\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.templewealth.co.uk\/tax-year-end-planning\/#primaryimage","url":"https:\/\/www.templewealth.co.uk\/wp-content\/uploads\/2019\/03\/Biting-money.jpg","contentUrl":"https:\/\/www.templewealth.co.uk\/wp-content\/uploads\/2019\/03\/Biting-money.jpg","width":4608,"height":3456},{"@type":"BreadcrumbList","@id":"https:\/\/www.templewealth.co.uk\/tax-year-end-planning\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.templewealth.co.uk\/"},{"@type":"ListItem","position":2,"name":"Planning for the end of the 2019 tax year"}]},{"@type":"WebSite","@id":"https:\/\/www.templewealth.co.uk\/#website","url":"https:\/\/www.templewealth.co.uk\/","name":"Temple Wealth","description":"Your Financial Partner For Life","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.templewealth.co.uk\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.templewealth.co.uk\/#\/schema\/person\/62d507753c274f2ec66e7bea56ffe74a","name":"Temple Wealth","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.templewealth.co.uk\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/6650f8a880dc0b6fdc21495e748aa841?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/6650f8a880dc0b6fdc21495e748aa841?s=96&d=mm&r=g","caption":"Temple Wealth"}}]}},"rttpg_featured_image_url":null,"rttpg_author":{"display_name":"Temple Wealth","author_link":"https:\/\/www.templewealth.co.uk\/author\/templeblog\/"},"rttpg_comment":0,"rttpg_category":"<a href=\"https:\/\/www.templewealth.co.uk\/category\/investments\/\" rel=\"category tag\">Investments<\/a> <a href=\"https:\/\/www.templewealth.co.uk\/category\/pensions\/\" rel=\"category tag\">Pensions<\/a>","rttpg_excerpt":"With the help of a financial adviser and some simple financial planning ahead of the tax year-end (5th April 2019) you can make the most of the tax allowances available to you such as your ISA and pension Annual Allowance. ISA allowance You have a \u00a320,000 ISA allowance each tax year. This is a \u2018use&hellip;","_links":{"self":[{"href":"https:\/\/www.templewealth.co.uk\/wp-json\/wp\/v2\/posts\/71952"}],"collection":[{"href":"https:\/\/www.templewealth.co.uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.templewealth.co.uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.templewealth.co.uk\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.templewealth.co.uk\/wp-json\/wp\/v2\/comments?post=71952"}],"version-history":[{"count":0,"href":"https:\/\/www.templewealth.co.uk\/wp-json\/wp\/v2\/posts\/71952\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.templewealth.co.uk\/wp-json\/wp\/v2\/media?parent=71952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.templewealth.co.uk\/wp-json\/wp\/v2\/categories?post=71952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.templewealth.co.uk\/wp-json\/wp\/v2\/tags?post=71952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}