Tax Year Ends: 5 April 2026

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 2026/27.

351 days remaining in the 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 2026/27. This allowance resets on 6 April and cannot be carried forward.

Key ISA Facts:

• Annual allowance: £20,000 for 2026/27
• You can hold multiple ISAs
• Interest, dividends, and capital gains are all tax-free
• Children get a separate Junior ISA allowance (£9,000)

Calculate ISA Growth ISA Guide Cinderella ISA Strategy

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
• Partner contributions: You can contribute £2,880 to your partner's pension (government adds £720 = £3,600 total)
• Child pensions: Contribute £2,880 to your child's pension (government adds £720 = £3,600 total)
• Government contributes: Basic rate tax relief adds 25% to contributions (plus 20% for higher/additional rate via self-assessment)

Pension Tax Relief Guide Workplace Pensions Guide

3. Lifetime ISA (LISA) Bonus

The Lifetime ISA offers a 25% government bonus, but it's only worth it if you're saving for your first home under £450,000.

LISA Key Facts:

• Government bonus: 25% on contributions (up to £1,000/year)
• Annual limit: £4,000 per year (counts towards your £20,000 ISA allowance)
• Age limit: Open between ages 18-40
• First home limit: Property must be £450,000 or less
• Withdrawal penalty: 25% charge if withdrawn for other reasons (except terminal illness)

⚠️ Important Consideration:

Only useful if: You're definitely buying your first home under £450,000. The 25% withdrawal penalty means you could lose money if your circumstances change.

LISA Guide

4. 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/additional rate taxpayers get extra relief, and it reduces adjusted net income for personal allowance restoration.
• Higher rate relief: Additional 20-25% relief for higher/additional rate taxpayers
• Donate shares: Avoid capital gains tax on appreciated securities and reduce adjusted net income for pension annual allowance restoration
• Payroll giving: Give directly from pre-tax salary, reducing adjusted net income for pension annual allowance restoration

5. 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 2026/27:

• Annual exempt amount: £3,000 (fixed from April 2024)
• Residential property: 18% or 24% (depending on income)
• Other assets: 18% or 24% (depending on income)
• Losses can be carried forward to offset future gains

Important Warning:

30-Day Rule: If you sell assets at a loss and repurchase the same assets within 30 days, the loss may be disallowed for CGT purposes. Consider using "Bed & ISA" to move assets into your tax wrapper instead.

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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