How to maximise your tax efficiency before tax year end 5 April 2023

Claim all of your allowable expenses – you can read our expenses guide here

Ensure paid invoices have been recorded – chase those you’re still awaiting payment for

Keep receipts 6 years after accounting period

£9,000 for junior ISAs (JISAs)

Utilise your partner / spouse’s allowance

On the basis you take a salary of £9,100

The remaining £35,700 is then taxed at a rate of 8.75%

You can give gifts or money up to £3,000 to one person or split the £3,000 between multiple people

Avoid paying NICs by paying yourself a low salary, then ‘topping up’ with dividends

Reduce your company’s liability to Income Tax (including on Dividends) by diverting your company’s pre-tax profits into a company pension.

Any contributions must be made before your company’s financial year end to qualify for deduction.