4 Actions before end of Tax Year. Moreover, the tax year comes to a close on 5 April. Notably, it’s a great idea to get your finances in order. Additionally, to take advantage of any tax breaks that may be available.

1. Your ISA Allowance

Every tax year, you have an Individual Savings Account (ISA) allowance. This is still £20,000 for the 2026 year. The limit for those under 65 will be £12,000 for the following year. Any money you save in an ISA is tax-free. This includes interest and investment growth. If you haven’t used your allowance, it’s important to do so. For example, it doesn’t roll over to the next tax year.

2. Your Pension Contributions

Contributing to your pension is a tax-efficient way to save for the future. You can save up to £60,000 a year (or 100% of your earnings, whichever is lower). Also, you receive tax relief. Importantly, if you’re a higher-rate taxpayer, you could effectively reduce your tax bill. By simply making a pension contribution before the tax year ends

3. Your Tax Code

Furthermore, it’s worth checking your tax code. Just to make sure you’re being taxed correctly. In particular, if you’ve changed jobs or had multiple sources of income during the year. Notably, an incorrect tax code could mean you’re paying too much (or too little) tax.

4. Your Marriage Allowance

If you’re married or in a civil partnership and one of you earns less than the Personal Allowance (£12,570. For example, you may be able to transfer £1,260 of your Personal Allowance to your partner. As a result, this can reduce your tax bill by up to £252 a year.

For more information see our recent blog

4 Actions before end of Tax Year. For help with financial planning, contact us today. Call 01603 957599 for your free initial consultation.