Manage episode 474448932 series 2112440
Watch full video at Charles Kelly Money Tips Podcast: https://youtu.be/VRexfc258N4
Interview with Chartered Tax Adviser and Accountant on changes to Furnished Holiday Lettings tax regime, IHT, Trusts and Wills, SDLT, pensions, ISA, Non-Dom tax status andend of year tips.
High taxation is one of the reasons 10,000 millionaires left the UK last year. Check out my video on this.
As the tax yeardraws to a close, now is the perfect time to review your finances and takeadvantage of last-minute tax-saving opportunities. In the latest episode of theCharles Kelly Money Tips Podcast, we break down essential end-of-tax-year tipsto help you reduce your tax bill legally and keep more of your hard-earnedmoney.
1. Maximize YourISA Allowance
You can save up to£20,000 tax-free in an Individual Savings Account (ISA). If you haven’t usedyour full allowance, now is the time to top it up.
2. UtilizePension Contributions
Contributing toyour pension not only grows your retirement fund but also reduces taxableincome, with tax relief of up to 45% for higher earners. We don’t know how longthis tax concession will last.
3. ClaimAllowable Expenses
Self-employed?Ensure you claim all deductible expenses, such as home office costs, travel,and professional fees, to lower your taxable profit.
4. Use CapitalGains Allowance
Sell assetsstrategically to take advantage of the current capital gains tax-free allowancebefore it resets in the new tax year.
5. Gift Money IHTTax-Free
Use your annual£3,000 inheritance tax gift allowance to pass on wealth without taximplications. Use it or lose it.
6. Use youraccountant, tax specialist, financial adviser and other professionals to saveyou money.
Good advice cansave you a fortune. Invest in yourself.
Don’t miss out onthese end-of-tax-year strategies—watch the full video now!
7 Powerful Steps to Transform Your Finances in 2025
As we move closer to 2025,now is the perfect time to take charge of your finances and make it your mostsuccessful year yet. In the latest episode of the Charles Kelly Money Tips Podcast,we explore actionable strategies to help you achieve financial freedom andbuild wealth.
Watch full video - https://youtu.be/-k7HPn0u_Ok?si=j6ZpuTlRyCJzuIxY
Section 24 PropertyLandlord Tax Hike
Interview with Chartered Accountant and property taxspecialist who reveals options and solutions to move your properties from yourown name into a limited company or LLP whilst mitigating the potential HMRCpitfalls.
Email [email protected]for a free consultation on how to deal with Section 24.
Watch video now: https://youtu.be/aMuGs_ek17s
#section24 #TaxSavingTips#EndOfTaxYear #FinanceTips #UKTaxes #WealthBuilding #MoneyManagement#PensionPlanning #TaxFreeSavings #CharlesKellyMoneyTips #furnishedholidaylet#IHT #SDLT #ISA
996 episodes