The conclusion of the 2023/24 tax year prompts us to reflect on some of the notable developments in the fiscal landscape.

This past year has been marked by ongoing efforts to recover from the economic impact of the global pandemic. Inflation has emerged as a significant concern, influenced by persistent disruptions in the supply chain and geopolitical tensions.

To address these economic challenges, the Government has adjusted tax policies to balance revenue generation with support for businesses and individuals. The regulatory environment has experienced continuous flux, requiring businesses and individuals to be adaptable in order to stay compliant.

With that in mind, we crafted this year-end tax guide to provide you with insights, enabling you to start the new tax year on solid ground. In this guide, you’ll find succinct summaries of the primary tax reliefs and allowances applicable for the remaining months of 2023/24.

Each section is accompanied by a set of planning points, serving as a practical checklist to help you consider all essential areas. 

If you would like any advice or to wish to discuss your tax planning further, please get in touch with us.