Morningstar's Guide to Financial Planning

This week Morningstar is guiding you through making the most of your tax-free investing opportunities, reducing your annual – and lifetime – tax bill while keeping HMRC onside

Emma Wall 9 March, 2015 | 9:38AM

You have less than a month left of the 2014/15 tax year – the clock is ticking to make the most of your allowances, top up your pension and manage your estate. Retirement planning, ISA investing, capital gains allowances and even tax-free gifting all have monetary allowances which run from April to April – and if you don’t use them within that tax year, you lose them. Financial planning can seem like a daunting undertaking, but broken down into a series of smaller tasks and it becomes much more manageable.

Have you topped up your ISA? Used your pension allowance? Maximised your inheritance tax exemptions? If you answered no to any of the above you could be missing out on thousands of pounds of extra income, growth and profit. In fact, according to financial adviser aggregator site unbiased.co.uk Britons will waste £4.9 billion in unnecessary tax this year.

This week Morningstar is guiding you through making the most of your tax-free investing opportunities, reducing your annual – and lifetime – tax bill and keeping HMRC onside.

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The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

About Author

Emma Wall  is former Senior International Editor for Morningstar

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