Year End Tax Planning

With the end of the 2021/22 tax year approaching, we advise our clients to take the time to ensure that they are utilising all available tax reliefs and allowances in order to benefit fully from them, or simply to minimise liabilities. BRI can help with this, either directly or by working alongside other trusted advisers you may have, such as your accountants.

The fall-out from the enormous economic costs wrought by the pandemic will need reducing and repaying over time. We have already seen certain tax increases announced and allowances frozen for years to come. The immediate future is likely to see other changes introduced; so, with this in mind, planning prior to 5th April makes sense.

Personal Tax

The annual Capital Gains Tax exemption is £12,300 (£6,150 for trusts). Losses from current or even earlier years can be used to offset gains, and interspousal transfers to maximise exemptions should be considered.

ISAs – a Reminder

Each adult can invest £20,000 per annum (£40,000 per couple) meaning that £80,000 could be invested within this flexible tax shelter, either side of the tax year. There is also the £9,000 allowance for Junior ISAs. Using retrospective ISA allowances after the end of a tax year is not permitted.


These higher risk investments can offer significant tax advantages to appropriate investors. However, taking specific advice is always recommended.

Business Tax

Business owners should assess the most tax-efficient method of remuneration: salary, dividends, or pension contribution. We work closely with many business owners and self-employed clients and can advise on this.

We are simply highlighting a few areas for consideration before the end of the tax year. There are more, and too many to list; but feel free to raise any area with your usual BRI adviser or contact request a meeting.