Welcome to our Year-End Tax guide for 2022/23.

2022/23 has been the third extraordinary tax year in the modern era. While 2020 and 2021 saw the heights of the pandemic, 2022 saw a surge in inflation mainly due to the continued supply chain issues after Covid, Russia’s war on Ukraine and rising energy prices.

Arranging your financial affairs as tax-efficiently as possible before the start of the new tax year on 6 April 2023 is therefore extremely important, especially when we consider the UK is expected to fall into a recession throughout 2023.

It doesn’t help that the past year has been mired with changes – and then U-turns – to the tax system, making the rules hard to keep track of. That’s what three Prime Ministers, four chancellors and three financial statements in one year will bring you.

That’s why we created this year-end tax guide – so you can see everything you need to know to start the new tax year the right way. You’ll find summaries of the main tax reliefs and allowances for the remainder of 2022/23.

Each section comes with a set of planning points, which you can use as a checklist to ensure you consider all of the key areas. And, of course, you can contact us if you have any questions or want to discuss your tax planning further.

In our Year-End Tax Guide, we will cover:

  • Personal allowances & reliefs
  • ISAs
  • Pension contributions
  • Inheritance tax
  • Property taxes
  • Capital gains tax
  • Business asset disposal relief
  • Non-domiciled taxation
  • Tax-efficient staff benefits
  • Corporation tax
  • VAT
  • Penalties

 

Download our Year End Tax Guide 2022/23 here

 

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Any questions?

If you’d like a meeting or a video call to discuss this, please get in touch with your favourite Liverpool accountant