Goldwyns news

As we enter the new year once again we are pleased to be congratulating one of our trainees on their success. Ashley Ive joined us in June 2013 (straight from school, like most of our trainees) so qualifying as a chartered accountant represents the culmination of nearly 5 years of hard work and an achievement for which he should be justifiably proud.

However, for us it is a stark reminder of how quickly time marches on – by the time you read this the end of the tax year (5 April 2018) will be looming ever nearer.

As the fiscal year draws to a close it is often worthwhile reflecting on matters while there is still time to act. For example, is your household receiving child benefit (potentially subject to clawback) and might your income now be exceeding £50,000? Or is your income just over £100,000 and therefore potentially exposed to an effective 60% tax rate? If so, can either of these be mitigated through other means? Don't forget the new interest relief restrictions on buy to let properties can complicate the definition of 'total income'.

Similarly, there are other reliefs that can be maximised – have you made the most of your dividend and personal savings allowances? Have you made the most of your pension contributions for 2017/18?

Please speak to us if you would like to discuss your personal circumstances.