Chris Auld, Financial Adviser at H&H Wealth Management, shares some key areas worth reviewing:
- Your Business Structure
Is your current business structure still the most tax-efficient?
Whether you’re a sole trader, partnership or limited company, the start of a new tax year is an ideal time to assess whether your setup aligns with your goals, risk profile, and future plans.
- Make the most of Capital Allowances
If you’re planning to invest in machinery, vehicles, or office equipment, you may be eligible for capital allowances, including the Annual Investment Allowance (AIA) – allowing you to deduct 100% of the purchase cost of qualifying assets from your profits, up to £1 million. This can reduce your taxable profits, and free up funds for growth.
- Don’t let unused allowances go to waste
Both personal and business-related allowances reset each April. Ensure you have a plan in place to make the most of:
- Dividend Allowance
- Pension Contributions (for directors or employees)
- R&D Tax Credits (if your business qualifies)
- Revisit Employee Benefits
Offering staff benefits like relevant life insurance or salary sacrifice pension schemes can be a tax-efficient way to reward and retain your team while reducing employer NI liabilities.
- Cash Flow Forecasting
Uncertain economic conditions mean robust cash flow planning is more important than ever. Identify potential pressure points early and review your insurance cover to protect against disruption.
Is now a good time for a Financial Review?
Whether you're planning for growth or just want peace of mind, now’s a great time to chat.
Contact Chris Auld at H&H Wealth Management on 01228 936975 for tailored advice that puts your business in the best position for the year ahead.
The value of an investment with St. James's Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than the amount invested. The levels and bases of taxation and reliefs from taxation can change at any time and are dependent on individual circumstances.
Sage Wealth Management Ltd is an Appointed Representative of and represents only St. James's Place Wealth Management plc.
H&H Insurance Brokers introduces to St. James’s Place Wealth Management plc which is authorised and regulated by the Financial Conduct Authority, for the purpose of advising solely on the Group’s wealth management products and services, more details of which are set out on the Group’s website www.sjp.co.uk/products