So, we’ve celebrated the beginning of a new
Gregorian New Year and indeed we’ve celebrated Chinese New Year, but have you given any thought
to the new tax year. Now that it’s February there are less than two months to go until
the end of the tax year. Which means if you haven’t taken advantage of your tax efficient
savings allowances for the tax year 2016-17 now is the time to do it.
You can shelter more than £15,000 in ISA and of course you also get a pension allowance
which you can save into a workplace pension or a SIPP. Now it’s also a good time to review
how much you are saving into a work place saving scheme because of course around January,
February many people get a pay rise and if your employer matches your contributions,
it might be time to tick up how much you say into that scheme.