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Tax Planning
Is your money working as hard as you do?
Building good habits around tax planning is an important step toward achieving your long-term financial goals.
When combined with a clear financial plan, making the most of available tax reliefs and allowances can help you create a solid foundation for your family’s future, support a comfortable retirement, and provide a structured approach for passing on wealth.
Your tax planning guide
A well-thought-out financial plan is the foundation of a secure future – you make confident decisions and stay on track toward your goals. Small steps, like making the most of your ISA allowances or contributing regularly to your pension, can make a big difference over time.
If you’re unsure where to begin, our Tax planning guide is a great place to start. In just 20 minutes, you’ll learn how to choose the ISA that suits you best, maximise your tax benefits, and see how regular contributions fit into your wider financial plan.
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Make your money work harder for you
There are three main ways to ensure you’re making the most of your reliefs and allowances.
ISAs
Whilst the JISA allowance of £9,000 remains unchanged, this is the last tax year in which under 65s can save up to £20,000 in an ISA before the allowance reduces to £12,000 in April 2027. Unused allowances cannot be carried forward, so maximising your contributions each tax year is essential.
Pensions
Because of the Income Tax relief you get on the money you pay into your pot, a pension – used as part of a balanced investment portfolio – is one of the best ways to save for your retirement. This tax year, you can contribute subject to certain allowances. Tax relief on personal contributions is limited to either up to 100% of your relevant earnings in the tax year, subject to the annual allowance of £60,000, or £3,600 if you earn less than this.
Capital Gains Tax
Capital Gains Tax (CGT) can be one of the most complex taxes, so it’s no wonder people fall into the trap of paying unnecessarily, or end up being fined for not paying when they should.
Your tax checklist
Our Tax checklist helps you stay organised and make the most of your money.
From reviewing your ISA contributions to checking your pension allowances, it’s a simple guide to ensure you’re taking full advantage of your tax-saving opportunities.
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The value of an investment with St. James’s Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.
The levels and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief is generally dependent on individual circumstances.
Learn more about your annual tax reliefs and allowances
Read our latest articles to find out more.