The end of the tax year (5 April 2013) is fast approaching and with it, two important deadlines for income tax relating to 2008-2009.

Tax Relief claims for 2008-2009

If you were entitled to any of the following reliefs in 2008-2009 and have not yet claimed these from HMRC, you will need to submit a written claim before 5 April 2013:

• Mileage allowance on business miles paid below the approved rates of 40p per mile for the first 10,000 miles and    25p thereafter.

• Professional subscriptions paid in relation to your employment which were not reimbursed by your employer.

• Higher rate tax relief on personal pension contributions made.

• Higher rate tax relief on gift aid donations made.

Claiming these reliefs usually leads to a tax refund.

Unused Pension Annual Allowance for 2008-2009

If your overall pension contributions in 2008-2009 were below the current £50,000 annual allowance limit, you can “carry forward” the unused allowance to this year to increase your pension provision.

This unused allowance is lost if not utilised before 5 April 2013 so if you are considering a lump sum contribution to your pension in the near future, check the timings carefully.

Time is running out to make these claims, if you need any advice or assistance, please contact Karen Robinson (karenrobinson@cullenfp.co.uk).