Are you using your allowances in 2019/20?

Every year HMRC allows you, as an individual to use the allowances below to offset against various forms of chargeable tax. If you do not use them in the tax year they could be lost and you might not be able to reclaim these for a previous year.

Personal Tax Allowance


Savings Allowance

£2,000 – Basic Rate Taxpayer

£500 – Higher Rate Taxpayer

£0 – Additional Rate Taxpayer

ISA Allowance


Lifetime ISA Allowance


Junior ISA Allowance


Capital Gains Tax Allowance


Dividend Allowance


Annual Pension Contribution Allowance


Money Purchase Annual Allowance (MPAA)


Pension Lifetime Allowance


Inheritance Tax Threshold


Residence Nil Rate Band


Annual Gifts


Ad-hoc Gifts


Wedding Gifts

To a child - £5,000

To a grandchild - £2,500

Anyone else - £1,000

For more information, please call 0808 144 5575 to speak with one of our Financial Planning Consultants or download your free guide to your allowances below.

Download now