Hot cross buns!

Wow! Easter is late this year!

With most schools ending their terms for their break in the weeks before Easter, rather than after, I am sure you, me and many others are looking forward to the rest and all it offers.

Time with family, fun, friends and Easter eggs. We have also moved into the new tax year 2019/2020 (starting 06th April 2019) and the Spring Statement from the Chancellor, Philip Hammond MP, on 13 March 2019 did not add much to the expected plans and allowances for the tax year ahead, although considering the political turmoil of recent months, it will be interesting to see if the next full Budget (usually around November each year) is brought forward.

The great outdoors beckons (yay!), with a few buttered hot cross buns and coffee to help the sunshine along. But before you pull your summer clothes on, now might be a great time to think about using your annually renewed tax allowances early in the tax year, so that you can enjoy the summer without any concern about missing any allowances as the tax year progresses.

For many folk, the focus of their financial planning might be to look at the following:

Standard Annual Allowance


Individual Savings Account (ISA)


Capital Gains Tax Allowance


Annual Gift Allowance (for inheritance tax purposes)


(You can go back one year if you did not use the tax year allowance in 2018/2019)

Pension Contribution

£40,000 gross from all sources

(The limit may be higher or lower than this amount dependent on your individual circumstances)

Personal Income Tax Allowance

£12,500 gross

This list can be very long and these are only some of the examples of allowances that can be used, noting that the nil rate tax bands for savings interest (£1,000 gross in a tax year for basic rate tax payers) and dividend income (£2,000 gross in a tax year) remain unchanged.

'I've got better things to do!', you might shout, and whatever your plans this Easter, we hope you have a relaxing and enjoyable time.