If you’re still recovering from submitting your tax return for the previous financial year and are dreading the prospect of starting the process again for 2017/18, you are not alone. It may therefore be even further down your priority list to start planning for the current tax year, 2018/19. To make the most of all your tax benefits though, it really is essential to start now.
Brexit has been very much the topic of conversation for the past three months and whether you voted for the UK to Leave or Remain in the EU, is now water under the bridge. We are all now part of a waiting game to see how things unravel in the coming weeks, months and maybe even years.
The Budget 2016 announced details of a new style ISA, called the Lifetime ISA (or LISA) that will be available from April 2017 for all 18 to 40 year olds. It will be a flexible way for young people to save towards their first home and their retirement, at the same time, and the government are topping up any investment with a 25% bonus.