Everything you need to know in one place
We have put together everything you need to know about tax year end to help you understand your options and to answer our most common questions around this time of year.
We strongly recommend you speak to a financial adviser before making any decisions on your pension.
Requests and Forms
The deadline for 2022/23 ISA increase applications is approaching
The deadline for receiving ISA increase applications for the 2022/23 tax year is midday on 5 April 2023. Any applications received after the deadline will be applied to the new tax year (2023/24).
Please note that we must receive your application form (if applicable) and payment by the deadline.
The deadline for 2022/23 Heritage pension claims has passed
You can receive tax relief on pension contributions up to the greater of:
However, where your total contributions exceed your available annual allowance, you will incur a separate tax charge.
Unless you have flexibly accessed a money purchase pension (for example, taken drawdown income from your pension) the annual allowance is £40,000 per year, with the ability to carry forward any unused annual allowance from the previous 3 tax years.
Please be aware if you have previously flexibly accessed a money purchase pension scheme (for instance, taken a taxable lump sum), you will have triggered the money purchase annual allowance which reduces your limit to £4,000 per year.
Getting the most from your money