There are plenty of different ways to manage your finances and look at reducing your tax bill. If you’re a PAYE employee and have more than one job – make sure to check your tax code and split your Personal Allowance between your jobs if you’re not making full use of it (£12,570 per year).

If you’re married or in a civil partnership, you may be able to benefit from Marriage Allowance, and transfer any of your unused personal allowance to your partner – you can transfer up to £1260 in 2022-23 which could potentially save you up to £250 – but to qualify, the highest earner must be a Basic Rate (BR) taxpayer.

If you think you were overcharged tax in the previous year, or your expected income has fallen – make sure to contact HMRC or fill in an R40 form to reclaim your overpayment.

When it comes to managing your accounts, there’s a lot of complex calculations, potential benefits and reliefs, and methods for managing your money. Contact us today, and we can provide you with advice and assistance in making the most of your money – and you’ll see why your accountants should be Yorkshire Accountancy.

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