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Tax year end planning: tools and resources

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Talking points – the latest technical insights in one place

  • Webinar replay: Financial planning considerations following a year of change
  • Lifetime allowance update
  • Pension contributions at tax year end
  • Capital gains management
  • Practical tips for managing client accounts
  • Cash options in times of high interest rates
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Update: ‘Replacement’ of the lifetime allowance

Last year, it was announced that the pension lifetime allowance (LTA) would be ‘abolished’. Initial measures were put in place for 2023/24, while the longer-term plan for the ‘replacement’ of the LTA – from 6 April 2024 – was to be delivered through further legislation. Following an initial Policy Paper and a Draft Finance Bill issued last summer – and a resulting consultation period – further draft legislation was released in November 2023.

This has provided more clarity on the new rules and the transitional arrangements. In this postcard, Paul Squirrell summarises some of the announcements made in the draft legislation and analyses what this could mean for financial planning.

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Unpicking the Autumn Statement 2023

Unpicking the Autumn Statement 2023

The Autumn Statement did not appear to contain any radical proposals that require immediate remedial action for advisers before the tax year end. However, when combined with the changes announced in the Spring Budget, there is still plenty to think about. Increased annual pension allowances along with the removal of the Lifetime Allowance tax charge and contribution restrictions for those with Fixed or Enhanced Protection may create additional pension saving opportunities for clients both now and into the new tax year.

Key points at a glance

Analysis by Paul Squirrell

Tax tables 2023/24

All the rates and thresholds for 2023/24.

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In our series of short videos below, we run through many of the considerations relating to pensions and Investment Accounts at tax year end.

Making the most of client data in the run up to tax year end

Quickly access all the information you need, including ISA subscriptions, income management and capital gains tax reporting.

9-min watch

For more on this, please visit the Client Reporting page.

Pension contributions Checklist

Our checklist is designed to highlight important considerations for clients making pension contributions. While there is no limit to the amount that can be saved into pensions each tax year, there is a limit in respect of the contributions that can potentially receive tax relief.

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The Pension forum

Paul Squirrell, our pension expert, answers technical questions which routinely come up. You can also submit questions you may have.

Technical matters

A range of technical insights on retirement, tax planning and regulatory updates.

Creating retirement income for your clients

Here we present insights and ideas on ensuring a client’s income lasts a lifetime.

Help and support

Answers to the most commonly asked questions by users of our platform.

Client management

All aspects of your clients’ accounts managed through our secure online product administration system.

Adviser fees

A transparent and flexible approach to charging.

The value of investments and the income from them, can go down as well as up, so clients may get back less than they invest. The value of benefits depends on individual circumstances. The minimum age clients can normally access their pension savings is currently 55, and is due to rise to 57 on 6 April 2028, unless they have a lower protected pension age. Different options may have different effects for tax purposes, different implications for pension provision and different impacts on other assets and financial planning.