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60: Tax-Efficient Planning: What to Do Before the Tax Year Ends
In this episode of Retire Well, Matthew and Joe break down everything you need to know as we approach the 5 April tax year end — whether you're building toward retirement or already drawing from your pensions.
They cover the key allowances, thresholds, traps, and planning opportunities that can make a meaningful difference to your long-term finances, including:
For Those Accumulating Wealth
- Understanding your income tax thresholds and how to avoid the £100k tax trap
- Making the most of pension contributions, annual allowance, and carry forward
- What to watch out for with the tapered annual allowance and MPAA
- How to use your ISA allowance (and when flexible ISAs can rescue you!)
- Managing general investment accounts and capital gains
- Checking and topping up national insurance for your state pension entitlement
For Those in Decumulation
- Using your tax bands wisely when taking income
- Planning lump-sum withdrawals across tax years
- Coordinating withdrawals across spouses
- Balancing pensions, ISAs, and other investments for tax‑efficient income
- Estate planning essentials to review before year end: nominations, wills, gifting allowances, and gifts out of regular income
They also answer a listener question on whether losses inside a Stocks & Shares ISA can offset capital gains (spoiler: they can’t — and here's why).
This episode is all about purposeful, proactive planning and avoiding the last‑minute scramble. It’s the small decisions you make each year that add up to a comfortable, flexible retirement.
--
CHAPTERS
00:00 - Intro
01:20 - Tax Thresholds & Tax Traps
06:12 - Pensions Checklist
12:53 - ISA & Other Investment Allowances
18:22 - State Pension
21:21 - Considerations When Drawing Money
26:33 - Long-Term Objectives & Estate Planning
31:44 - Listener's Question
--
TALK TO US
Call us: 0191 384 1008
Email us: [email protected]
Website: www.retirewellpodcast.co.uk
--
SUBSCRIBE TO OUR NEWSLETTER
www.retirewellpodcast.co.uk
--
Wealth of Advice are authorised and regulated by the Financial Conduct Authority, reference number 563909. Past performance is no guide to future returns. Your investments can go down as well as up, so you may get back less than you originally invested. This video is for educational purposes only and is not personal financial advice.
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By Wealth of AdviceIn this episode of Retire Well, Matthew and Joe break down everything you need to know as we approach the 5 April tax year end — whether you're building toward retirement or already drawing from your pensions.
They cover the key allowances, thresholds, traps, and planning opportunities that can make a meaningful difference to your long-term finances, including:
For Those Accumulating Wealth
- Understanding your income tax thresholds and how to avoid the £100k tax trap
- Making the most of pension contributions, annual allowance, and carry forward
- What to watch out for with the tapered annual allowance and MPAA
- How to use your ISA allowance (and when flexible ISAs can rescue you!)
- Managing general investment accounts and capital gains
- Checking and topping up national insurance for your state pension entitlement
For Those in Decumulation
- Using your tax bands wisely when taking income
- Planning lump-sum withdrawals across tax years
- Coordinating withdrawals across spouses
- Balancing pensions, ISAs, and other investments for tax‑efficient income
- Estate planning essentials to review before year end: nominations, wills, gifting allowances, and gifts out of regular income
They also answer a listener question on whether losses inside a Stocks & Shares ISA can offset capital gains (spoiler: they can’t — and here's why).
This episode is all about purposeful, proactive planning and avoiding the last‑minute scramble. It’s the small decisions you make each year that add up to a comfortable, flexible retirement.
--
CHAPTERS
00:00 - Intro
01:20 - Tax Thresholds & Tax Traps
06:12 - Pensions Checklist
12:53 - ISA & Other Investment Allowances
18:22 - State Pension
21:21 - Considerations When Drawing Money
26:33 - Long-Term Objectives & Estate Planning
31:44 - Listener's Question
--
TALK TO US
Call us: 0191 384 1008
Email us: [email protected]
Website: www.retirewellpodcast.co.uk
--
SUBSCRIBE TO OUR NEWSLETTER
www.retirewellpodcast.co.uk
--
Wealth of Advice are authorised and regulated by the Financial Conduct Authority, reference number 563909. Past performance is no guide to future returns. Your investments can go down as well as up, so you may get back less than you originally invested. This video is for educational purposes only and is not personal financial advice.