Make the most of your 2022/23 allowances
With the current tax year end fast approaching, we have created a dedicated information hub to provide you with key dates, documents and tips to help make the most of your various tax allowances.
If you are aware of any remaining tax allowances that you are yet to make use of, follow the step-by-step guide below to contribute to your account(s) and make the most of your allowances before the tax year end. But as always, if you are unsure or have any questions, please do not hesitate to contact your 7IM Private Client Director.
Key dates
Tax year end
Wednesday 05 April
Last working day before tax year end
Tuesday 04 April
New tax year
Thursday 06 April
Last date any paperwork can be accepted by 7IM
Monday 03 April
A reminder of the allowances for the 2022/23 tax year
Take advantage of your ISA/JISA allowances in three easy steps:
Make the most of your £20,000 ISA allowance or £9,000 Junior ISA (JISA) allowance for the 2022/23 tax year by following these steps to contribute to your 7IM ISA or JISA.
If you do not have an existing ISA or JISA with 7IM and wish to set one up, please contact your 7IM Private Client Director who will be able to help you.
7IM ISA payment details
Recipient Name
Pershing Securities Ltd Client Hub Account
Sort Code
16-04-00
Account Number
31266302
Payment Reference
Your 7IM client reference (IMXXXXXX) and surname.
If you are unsure of your reference, please ask your 7IM Private Client Director.
This is very important as it will allow the payment to be applied to your account. Not providing the correct information may delay receipt as well as impact our ability to subscribe by the deadline.
The final date for payments to be received is Monday 03 April 2022.
Contribute to your 7IM SIPP in three easy steps:
Make use of your pension contribution allowance by following the step-by-step guide below. If you are unsure of your pension arrangements, please speak to your 7IM Financial Planning Director or 7IM Private Client Director.
If you do not have a 7IM SIPP, but you have a SIPP with a third-party provider (with the investments managed by 7IM), you will need to complete the necessary forms and steps with that provider. Please contact us if you are unsure and we can point you in the right direction.
7IM SIPP payment details
Recipient Name
7IM Trustees
Sort Code
16-00-15
Account Number
16294767
Payment Reference
Your 7IM SIPP Client Reference (IMXXXXXS) and surname.
If you are unsure of your reference please ask your 7IM Private Client Director or Financial Planning Director.
This is very important as it will allow the payment to be applied to your account.
The final date for payments to be received is Monday 03 April 2022.
Review your Capital Gains Tax position
If after reviewing your accounts you still have some of your Capital Gains Tax (CGT) allowance to realise on your 7IM portfolio, providing you have not used this allowance elsewhere, please contact your 7IM Private Client Director and they will be able to help you make use of this allowance.
If you are unsure if you have any CGT allowance remaining, please contact your Private Client Manager who will be able to assist you.
Getting financial fit in time for tax year end
As the 2022/23 tax year end fast approaches, one of our Financial Planning Directors, Yasmin Wales looks at what small, manageable steps you can take to maximise your allowances and boost your financial fitness.
Want to know more about the end of tax year and how it affects you? Come and talk to our team today.
Speak to your 7IM Financial Planning Director or 7IM Private Client Director for further information about how the tax year end affects you. If you don't know their contact information, you should be able to find it via our Meet our people section.
Fill out our contact form and we'll get back to you at a time that is convenient for you.