2024/25 Year-End Tax Tips for Individuals & Businesses
- JAFA Accountancy
- Apr 3
- 3 min read
The clock’s ticking - April 5th marks the end of the 2024/25 tax year. But it’s not too late to make a difference. These last-minute tax-saving tips can help individuals and small businesses cut their bill, boost efficiency, and start the new tax year on the right foot.
Top Up Your Pension for Instant Tax Relief
Adding to your pension before April 5th is one of the easiest ways to cut your tax bill at the last minute.You’ll get tax relief based on your income tax rate, so if you’re a basic-rate taxpayer, an £80 contribution becomes £100 with government top-up.
Higher-rate and additional-rate taxpayers can claim even more through Self Assessment.
You can usually contribute up to £60,000 a year (or 100% of your income). If you run a business, employer contributions are also tax-deductible.
It’s a quick win: lower your taxable income and boost your retirement savings at the same time.
Max Out Your ISA Allowance Before You Lose It
You can save or invest up to £20,000 tax-free in an ISA each tax year, but the allowance resets on April 6th, and unused amounts are lost.
Whether it’s a Cash ISA (for savings) or Stocks & Shares ISA (for investing), your money stays protected from income and capital gains tax.
You can split the allowance across ISA types, but the total can’t go over £20,000. Eligible for a Lifetime ISA? You can get a 25% government bonus on up to £4,000.
If you’ve spare savings, this is a quick way to shield more of it from tax before the deadline.
Make Final Business Purchases or Log Expenses Now
Buying tools, equipment, or software before April 5th means you can claim them this tax year and reduce your taxable profit.
Think laptops, office supplies, subscriptions, travel, phone bills - even a portion of your home costs if you work from home.
If you’ve already spent the money, make sure it’s all logged. Missed receipts = missed tax savings.
If you're planning business expenses anyway, now's the time to act and cut your bill before the deadline.
Claim Any Allowances or Reliefs You’re Eligible For
Don’t miss out on reliefs that could shrink your tax bill before the year ends. Here are a few worth checking:
Marriage Allowance: If your partner earns less than £12,570 and you’re a basic-rate taxpayer, you could transfer part of their allowance and save up to £252.
Gift Aid: Made any charitable donations? You could claim extra tax relief through Self Assessment.
Work-from-home expenses: You can claim a flat rate or actual costs if you work from home.
Professional subscriptions and tools: Many industry-related costs are deductible if they’re necessary for your work.
Even small claims can add up. Take a few minutes to check what applies to you before the April 5th deadline.
What We Think
Most people don’t leave tax planning to the last minute because they’re careless - they leave it because the system is complicated, time is limited, and running a business (or life) comes first.
We think year-end tax planning shouldn’t feel like a scramble or a guessing game. With just a few focused actions, like using your pension allowance, logging missed expenses, or making a final business purchase, you can still take control, even with days to spare.
How JAFA Can Help
We help you catch those last-minute wins like forgotten expenses, pension top-ups, or missed allowances before the deadline passes. No spreadsheets, no scrambling.
We help you keep things organised behind the scenes all year long, so next April, you’re not rushing to do everything at once. You’ll know what’s claimed, what’s pending, and what to do next without needing to be a tax expert.
Contact our expert accountants based in Birmingham, UK, either by booking a FREE discovery call or calling us on +44 121 227 6277.
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