With just a few weeks until the tax year ends on 6 April 2018, you have a little time left to ensure your tax affairs are in place and you have used all of the reliefs and allowances available to you. Below is a summary of 10 key allowances that you should consider before it’s too late.

1) Capital Gains: Have you used your annual exemption for 2018-19 of £11,700?

2) Inter-spouse transfers: Have you maximised capital gains and income tax rates and allowances through these exempt transfers?

3) ISAs: Have you used your maximum annual investment of £20,000?

4) EIS/VCT investment: Have you considered these investments, which offer income tax relief, as well as possible capital gains tax deferral

5) Junior ISAs or Child Trust Fund: Has £4,260 been invested for any child under the age of 18?

6) Personal allowance: Have you made full use of your personal allowance of £11,850?

7) Pensions: Have you made full use of allowances for pension contributions?

8) Inheritance Tax: Have you made full use of gift exemptions including the £3,000 per annum allowance.

9) Business structure: Are you operating under the most tax efficient business structure? In some cases, it may be advantageous to operate as either a company or an unincorporated entity.

10) Dividend taxation: Have you utilised your Dividend Tax Allowance of £2,000?

For a copy of our latest Tax Planning Checklist click here

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