Get ahead with your year end tax planning

In this session we provided an overview of upcoming changes to tax rates, and strategies to mitigate their effects, including:

• the increase in employers’ national insurance rate from 13.8% to 15%;
• a reduction in the earnings threshold for employers’ NI contributions from £9,100 to £5,000;
• changes in business assets disposal relief rates;
• pension contributions as a key tool for tax relief;
• the importance of reviewing pension contributions annually;
• the use of salary exchange (salary sacrifice) to make pension contributions more tax-efficient;
• Enterprise Investment Schemes (EISs) and Venture Capital Trusts (VCTs);
• individual Savings Accounts (ISAs) for tax-free growth and income;
• investment bonds;
• the importance of diversified investment strategies;
• how couples can optimize their tax positions through joint ownership of assets and varying ownership splits;
• the impact of fiscal drag and strategies to mitigate it; and
• the upcoming changes to inheritance tax on pensions (effective April 2027).

The session concluded with a Q&A segment where attendees asked about various topics, including:

• the tax implications of crypto assets;
• national savings and investment bonds;
• strategies for high earners to optimize tax positions.

Read our tax planning for 2024/25 flyer here

If you have any questions about funding your business for growth or would like to discuss the key insights from our webinar, please contact us.