The freeze of many tax rates and thresholds continues to increase the government’s tax take, but there are still many useful ways to arrange your affairs tax efficiently, and we provide an overview of some of these here.
Where you have discretion over the timing of income, for example, you can establish when that income is best taken — in this tax year or the next. A review before 5 April 2024 could therefore have a significant effect on your tax position.
For Scottish taxpayers, to whom higher tax rates and thresholds apply, this is particularly true. Each year brings its own tax challenges, and this year is no exception.
In this publication, we use the rates and allowances for 2023/24. Please note that throughout this publication, the term spouse includes a registered civil partner.
13th Feb 2024
Year end tax planning summary 2024
Our summary of pre-year end tax and financial planning tips
