How do I organize my investments to generate the maximum tax free income - in the UK?

Question

I want to organize my investments to maximise the use of annual tax free allowances in the UK. The following is what I believe we can utilize - but are there others?

Personal Allowance: £12500
Starting rate for saving (if other income £0): £5000
Personal Savings Allowance: £1000
Capital Gains Allowance: £12300
Dividend Allowance: £2000

This is £32,800 so far.
In addition you can make use of the following:

ISA investment £20,000 per year - gains free of income and capital gains tax.
Pension Contribution for no earnings of £2880 - to get £720 of tax relief.

What's missing to best structure my investments?
Could someone also clarify that if Capital Gains are over the annual Capital Gains allowance then the additional gain needs to be above your Personal Allowance before any tax is due - if you have not used up your Personal Allowance?
Is there any tax free income boosting benefit to using Dividend generating investment stocks instead of growth stocks which are Capital Gains generating?
Thanks.

timday · Answer

There are other things which might be useful...

Private residence relief.  All the gains on your personal residence are CGT exempt.  So someone thinking long term might buy a bigger house than they need, planning to downsize later.  The gains would be tax-free.

You can earn £7,500 tax-free from "rent-a-room relief" from letting out furnished accommodation in your home.  (Which would appear to have potential synergies with private residence relief.)

The whole world of entrepreneurs' tax reliefs: VCTs and EIS/SEIS investing.  I don't know enough about this to comment further.  It has a reputation for being complicated and expensive, but it does seem to be useful to high earners.

Certain gold/silver coins are CGT exempt, because they are considered British legal tender. (Examples at https://www.bullionbypost.co.uk/capital-gains-tax-free-gold-coins/ ).

Re the growth stocks vs. dividend stocks thing: given a choice between taxable investments which will grow capital value and investments which will provide income but which are otherwise equivalent, assuming all relevant reliefs have been used up the rational tax-reducing choice would be to prefer the capital growth as gains are currently taxed at a lower rate - 10/20% on gains (18/28% for property gains) vs 20/40/45% for income.  However there seems to be a lot of speculation that the chancellor may increase CGT rates and/or lower CGT thresholds soon.

How do I organize my investments to generate the maximum tax free income - in the UK?

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