Jet Stream - We're the Contractor Accounting Experts

Unlimited advice and support from our team of accredited accountants, whenever you need it!

Real-time dashboard reporting.

No more out of date monthly reports or waiting months to see your year end financials. For us it’s all about right here, right now! 

Jet Stream - We're the Contractor Accounting Experts

Unlimited advice and support from our team of accredited accountants, whenever you need it!

Real-time dashboard reporting.

No more out of date monthly reports or waiting months to see your year end financials. For us it’s all about right here, right now! 

Jet Stream - We're the Contractor Accounting Experts

Unlimited advice and support from our team of accredited accountants, whenever you need it!

Real-time dashboard reporting.

No more out of date monthly reports or waiting months to see your year end financials. For us it’s all about right here, right now! 

Jet Stream - We're the Contractor Accounting Experts

Unlimited advice and support from our team of accredited accountants, whenever you need it!

Jetstream – Planning for the Tax Year End

The run-up to the tax year end on 5 April 2015 is the perfect time to consider tax planning opportunities and here are just some ideas to consider before the end of the tax year.

Ensure you have made full use of your 2014/15 New Individual savings Accounts (NISA) Allowance of £15,000. This means married couples, for example, could put up to £30,000 between them into NISAs this tax year.

Make contributions to a Junior ISA to help children and grandchildren get a head start.

  • Take advantage of your £11,000 Annual Capital gains Tax (CGT) exemption.
  • Review whether you have any unused annual pension allowances from 2011/12 tax year onwards.
  • Maximise contributions to your pensions for the 2014/15 tax year.
  • The Government encourages you to save for your retirement by giving you ‘tax relief’ on pension contributions. Tax relief reduces your tax bill and/or increases your pension fund.
  • When you retire, provided your own pension scheme rules allow, you can usually take up to 25 per cent of your pension fund as a tax-free lump sum. Your regular pension income is then taxed in the same way as the rest of your income.

 

You can obtain tax relief on contributions of up to 100% of your earnings each year, subject to an upper ‘Annual Allowance’ of £40,000 for 2014/15.