It’s important to consider this from every angle:
have you maximised all of your tax-free allowances?
Have you claimed any reliefs available?
We won’t know most of the changes for 2021/22 until the Spring Budget on 3 March 2021. This guide will help you to answer those questions and more, with detailed summaries of the tax rates, allowances and reliefs that apply to businesses and individuals for the remainder of 2020/21. Each section comes with a set of planning points, too, which you can use as a checklist to ensure you’ve covered all the key areas to consider.