Year End Tax Planning Summary 2025

As always, our purpose, helping you prosper, remains at the heart of everything we do, and this Year End Tax Planning Guide is here to help you make the most of available tax reliefs and planning opportunities.  

To ensure this guide is accessible, we have divided it into sections: planning points for companies and business owners; then points for families, couples and individuals. While there is some inevitable overlap, this structure ensures ease of use, allowing you to focus on what is most relevant to you. 

Topical issues:

Each year brings its own tax challenges, and this year is no exception. Key areas to think about include:

• forthcoming changes to Inheritance Tax
• changes to Business Asset Disposal Relief
• new emphases for profit extraction strategy
• the abolition of the furnished holiday lettings rules
• impact of basis period reform for unincorporated businesses
• increased employer National Insurance costs to come.

We explain these changes here, and suggest practical points for action. As your accountants, we have the insight into your affairs that can make an impact, and we look forward to being of assistance.

Note: in this publication, we use the rates and allowances for 2024/25. Throughout the text, the term spouse includes a registered civil partner.