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With the current tax year having begun on 6 April 2022, the clock is ticking and it is important to utilise all the tax reliefs and allowances available to you before 5 April 2023 in order to minimise any potential liabilities. On page 08, we look at the way personal tax planning should be at the top of your agenda as the end of the current tax year is not too far away. Taking action now may give you the opportunity to take advantage of any remaining reliefs, allowances and exemptions.
Time is also running out to take advantage of this year’s Individual Savings Account (ISA) allowances. You get one ISA allowance per tax year. So use it or lose it soon, when the tax year ends on 5 April. Any unused ISA allowance will not be rolled over into the new tax year. On 6 April when the new tax year starts, if you haven’t used all of your or your children’s ISA allowances from the previous tax year, they will be lost forever. Read the full article on page 04.
With a New Year comes resolutions. Everyone should make a resolution to review their protection and estate plans. A solid plan will help you feel confident your family’s finances are secure. While no one knows what is around the corner, reviewing your protection, updating your Will and creating an estate plan will help you rest assured that the financial side of things is taken care of. On page 07, we look at some of the main considerations.
Women make up nearly half of the UK workforce, but many feel forced to reduce their hours at work, pass up promotions and even leave their jobs due to lack of menopause support. On page 12, while symptoms vary between individuals, for many women the menopause can have a big impact on their everyday life. It’s only further down the line that the resulting missed pension contributions become apparent, but by then it may be too late.