7 allowances you might want to use before the end of the 2024/25 tax year

When a new tax year starts, many allowances reset. So, checking if you could use these valuable allowances before 5 April 2025, when the 2024/25 tax year ends, might help your money go further.

It’s important to understand which allowances fit into your financial plan and suit your goals. So, this guide could help you assess which allowances you might want to use before the current tax year ends.

The guide explains the:

1.       ISA allowance

2.       Junior ISA allowance

3.       Dividend Allowance

4.       Capital Gains Tax Annual Exempt Amount

5.       Marriage Allowance

6.       Pension Annual Allowance

7.       Inheritance Tax annual exemption

If you have any questions about using allowances before the end of the tax year or managing your finances in the new 2025/26 tax year, please get in touch.

Please note: This guide is for general information only and does not constitute advice. The information is aimed at retail clients only.

The value of your investments (and any income from them) can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance.

Investments should be considered over the longer term and should fit in with your overall attitude to risk and financial circumstances.

Your home may be repossessed if you do not keep up repayments on your mortgage.

We hope that you find this useful but please let us know if you have any questions or need anything further.