The 2017/2018 tax year is coming to an end. It’s that time of year that seems to creep up on many small business owners, no matter how good your intentions were to be prepared. Now is the time to make sure you have taken advantage of tax saving opportunities and invested where possible. It’s also time to start preparing for your year end self assessment.

The Lifetime Individual Savings Account or LISA, as it is often shortened to, was launched in April 2017. Aimed to encourage young people (specifically those aged 18-40 years old) to simultaneously save for their first home and retirement as both are major concerns for the younger generation.

It is likely you have noticed that interest rates on savings are at an all-time low. Your Individual Savings Account (ISA) is probably earning you as little interest as your other savings (and general bank) accounts, and there does not seem to be much chance of the base rate increasing significantly any time soon. However, there might still be ways to take advantage of ISAs.