RE: £3,000 tax-free gift allowance19 Dec 2022 21:37
Furry-ears,
I do not like discussing my medical conditions but... I have mentioned in the past that I am allergic to working, which is why I had to stop in my forties. My reactions to paying taxes are even worse, so make sure everything is as efficient as possible.
Tax hygiene is highly recommended. And on that point; make sure you use this year's CGT allowance if you have a gain that ought to be protected, even if it means selling to fund next year's ISA allowance. The 2023 CGT allowance drops from £12,300 to £6,000. The CGT on the £6300 is just 10% for a basic rate taxpayer, but who wants to give away £630 to GOV? That is what people pay for a utility like water or broadband...