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Why you need to meet with your accountant before April
20 March 2025

As the end of the tax year approaches, it is a good time to review your personal tax position and ensure you are making the most of available allowances.

Unlike company tax planning, which can take place throughout the year, personal tax is closely tied to the tax year-end on 5 April.

This makes early planning essential to avoid missed opportunities or unexpected tax liabilities.

Meeting with your accountant before key deadlines allows you to review your financial position and act on advice where needed.

The discussion will typically cover:

• Tax planning – Reviewing ways to manage your tax liabilities efficiently.
• Spending and saving plans – Ensuring your personal spending and use of assets align with your financial goals.
• Opportunities and risks – Identifying areas that may need attention before the tax year-end.

Having these conversations now will give you confidence and peace of mind that your tax affairs are in order before 5 April.

Key benefits of meeting your accountant before year-end

A pre-year-end meeting allows you to take a proactive approach rather than reacting to financial issues after they arise.

By reviewing your tax position, allowances, and financial commitments in advance, you can make changes that may not be possible once deadlines have passed.

Small adjustments ahead of key dates – whether for tax efficiency or future planning – can put you in a stronger financial position.

Exploring your tax relief options ahead of year-end

Meeting with your accountant ahead of deadlines gives you the chance to discuss tax-saving opportunities, including:

• Maximising personal allowances – Ensuring you make full use of your Income Tax personal allowance, savings allowance, and dividend allowance.
• Making pension contributions – Reviewing whether additional pension contributions before 5 April could reduce your tax bill.
• Using capital gains tax allowances – If you are planning to dispose of assets, considering timing to make the most of annual exemptions.
• Gift planning – Taking advantage of Inheritance Tax exemptions by making tax-efficient gifts.
• Planning for dividend and investment income – Ensuring your investments are structured in a tax-efficient way before the tax year-end.

By reviewing these tax relief options now, you can take advantage of available allowances and ensure you are in the best possible position for the new tax year.

Speak to us today to make sure you are fully prepared for your tax year-end.