Tax Saving Tips for Healthcare Professionals Before April 5, 2024

In this episode, Tommy and Ed detail strategies to save significant amounts on taxes before the end of the 2023 to 2024 tax year on April 5, 2024. It emphasizes the urgency of taking action before the deadline to claim various tax reliefs and deductions. The discussion includes advice on a wide range of topics such as claiming tax rebates on allowable employment expenses from previous years, understanding adjusted net income, leveraging tax-free childcare, capital gains tax, and making the most of ISA and pension contributions. Additionally, the we highlight how to navigate the so-called 'tax traps' for high earners, the importance of utilizing ISA allowances, and planning for inheritance tax.

00:00 Introduction: Maximizing Tax Savings for Healthcare Professionals
00:18 Why You Need to Act Before April 5th, 2024
00:51 Getting to Know the Experts
01:43 Basic Tax Saving Tips: Claiming Rebates and Utilizing Allowances
03:46 Navigating High-Income Tax Traps and Adjusted Net Income
13:29 Maximizing ISA Allowances for Tax-Free Savings
19:56 Capital Gains and Dividend Allowances: Strategies for the Current Tax Year
23:05 Utilizing Inheritance Tax Annual Exemption
24:33 Conclusion: Sharing Knowledge and Upcoming Courses

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DISCLAIMER:
This channel is for education purposes only and does not constitute financial advice and tax allowances and rates are subject to change.

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