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The End of the Tax Year

At the time of writing the end of the tax year is just over a month away. For savers and investors that means there is not much time left to optimise pension and ISA investments for the current tax year.

You may well have seen a similar reminder from us in previous years. But we make no apologies for repeating our annual message as it can be all too easy to miss the deadline and therefore fall foul of the ‘use it or lose it’ nature of in-tax-year investments.

Yes, there are certain circumstances in which you can ‘carry forward’ pension investments so that if you miss one year you may be able to make up for it in the next. However, the rules on this are fairly prescriptive. When it comes to ISAs there is no leeway at all. The ISA allowance is fixed for each tax year so if you miss the deadline then you miss out on a year’s ISA allowance.

If you are looking for advice on investments or if your situation has changed and you may therefore need to review your existing pensions or investments, contact Beckworth by using one of the links on our website.