Blogs

As we approach the end of the tax year, I wanted to remind you to review your pension contributions to ensure you're making the most of your yearly allowance for tax purposes. Topping up your pension funds before the deadline can help benefit from the tax and also help with your future.

The annual allowance is the maximum amount you can contribute to your pension pots in a tax year (from 6 April to 5 April) before you must pay tax. For the tax year 2024 to 2025, the standard annual allowance is £60,000. This includes contributions made by you, your employer, and any third parties.

As we step into the new year, it's time to remind you that the self-assessment tax deadline is fast approaching. By the end of January 2025, you need to have paid your self-assessment tax for the tax year 2023-2024. If you haven't yet sent us your information, don't worry. We've been keeping records and have reached out to those of you who we believe need to provide additional details. However, if you haven't heard from us and would like us to file your self-assessment, please get in touch as soon as possible.