Your 2021/2022 Tax Allowances: Why You Shouldn’t Wait Until March to Make the Most of Them

21/09/2021 / Liberty news

If you’ve ever left it as late as possible to meet a deadline, you’ll know what it feels like. You likely felt anxious and stressed, before experiencing the relief of (hopefully) getting your job done in time. You may also have had a rush of adrenalin, which could help explain why this is a favoured approach to getting things done.

Waiting until the last minute can easily become a habit – but it can also come with a cost where financial deadlines are concerned. The end of the tax year on 5 April – the point by which your annual allowances must be used – is the date that many of us use as a deadline for sorting out our finances and getting our tax affairs in order. But while that makes sense, it can also be a mistake.

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