End of Tax Year Checklist
Don't leave money on the table. Complete these essential tasks before 5 April to maximise your tax savings for 2025/26.
The 2025/26 tax year has ended. Start planning for next tax year!
Don't Lose Your Allowances!
Many tax allowances reset on 6 April and cannot be carried forward. Use it or lose it!
1. Use It or Lose It - ISA Allowance
You can contribute up to £20,000 to ISAs tax-free in 2025/26. This allowance resets on 6 April and cannot be carried forward.
Key ISA Facts:
- • Annual allowance: £20,000 for 2025/26
- • You can hold multiple ISAs
- • Interest, dividends, and capital gains are all tax-free
- • Children get a separate Junior ISA allowance (£9,000)
2. Check Your Pension Contributions
Maximising pension contributions can reduce your tax bill and boost your retirement savings. Consider both workplace and personal pensions.
Key Pension Facts:
- • Annual Allowance: £60,000 (or 100% of earnings, whichever is lower)
- • Tax relief at your marginal rate (20%, 40%, or 45%)
- • Carry forward unused allowance from previous 3 years
- • Check your adjusted net income for taper rules
3. Consider Charitable Giving
Donating to charity can reduce your tax bill while supporting causes you care about. There are multiple tax-efficient ways to give.
Tax-Efficient Giving:
- • Gift Aid: Basic rate taxpayers can boost donations by 25%
- • Higher rate relief: Additional 20-25% relief for higher/additional rate taxpayers
- • Donate shares: Avoid capital gains tax on appreciated securities
- • Payroll giving: Give directly from pre-tax salary
4. Harvest Gains or Losses with Intention
Review your investments for capital gains tax planning. You can realise losses to offset gains, but plan carefully.
CGT Facts 2025/26:
- • Annual exempt amount: £3,000 (reduces to £1,500 from April 2028)
- • Residential property: 18% or 24% (depending on income)
- • Other assets: 10%, 20%, or 24% (depending on income)
- • Losses can be carried forward to offset future gains
Important Warning:
Bedside Indexing: Don't sell assets just to claim a loss if you'd repurchase them. This is known as "bedside indexing" and HMRC may disallow the loss.
Related Guides
Important: This guide provides general information about UK tax planning and is not personal financial advice. Tax rules can vary based on your individual circumstances. Consider consulting a qualified financial adviser for personalised guidance.
Track Your Tax Planning with Delphina
Use Delphina to monitor your ISA contributions, pension pots, and overall net worth as you execute your tax year end plan.
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