New Tax Year Money Checklist: 10 Things to Do in April

The April Money Checklist

• •1. Open or fund your ISA: Your new £20,000 ISA allowance starts now. Set up a standing order.
• •2. Check your new tax code: Your employer will apply a new code from April. Verify it's correct on your payslip or HMRC account. See our tax code guide.
• •3. Review your pension: Check contributions, employer match, and investment choices. Consider increasing if you got a pay rise.
• •4. Claim Marriage Allowance: If eligible, claim or confirm it's still being applied. Worth up to £252/year.
• •5. Check your payslip: Look for changes in NI, tax, pension, student loan deductions after annual threshold updates.
• •6. Review savings rates: Banks often change rates in April. Move money to better-paying accounts.
• •7. Set new financial goals: Use the fresh tax year as motivation to set savings targets. Start a new SYM challenge.
• •8. Update your budget: If bills, rent, or subscriptions have changed, adjust your budget accordingly.
• •9. Check benefit entitlements: Many benefit rates change in April. Ensure you're claiming everything you're due.
• •10. Review last year: How did your finances perform? What worked? What didn't? Adjust your approach.

Key Annual Allowances to Know

• •ISA allowance: £20,000 across all ISA types
• •LISA allowance: £4,000 (part of the £20,000 ISA total)
• •Junior ISA: £9,000
• •Personal Allowance (income tax): £12,570
• •Capital Gains Tax allowance: £3,000
• •Dividend allowance: £500
• •Pension Annual Allowance: £60,000 (including employer contributions)

Quick Wins for the New Tax Year

Planning the Year Ahead

Frequently Asked Questions