7 allowances you might want to use before the end of the 2024/25 tax year

When a new tax year starts, many allowances reset. So, checking if you could use these valuable allowances before 5 April 2025, when the 2024/25 tax year ends, might help your money go further.

It’s important to understand which allowances fit into your financial plan and suit your goals.

This guide covers:

1. ISA allowance

2. Junior ISA (JISA) allowance

3. Dividend Allowance

4. Capital Gains Tax Annual Exempt Amount

5. Marriage Allowance

6. Pension Annual Allowance

7. Inheritance Tax annual exemption

Read our latest guide to discover seven allowances you may want to use before the 2024/25 tax year ends.

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The guide is based on our current understanding of legislation, which is subject to change.

The value of investments and the income they produce can fall as well as rise. You may get back less than yo invested.

The Financial Conduct Authority does not regulate estate, tax planning, Inheritance Tax planning, or advice on cash on deposit.

Accessing pension benefits early may impact on levels of retirement income and your entitlement to certain means tested benefits.

Accessing pension benefits is not suitable for everyone. You should seek advice to understand your options at retirement.

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