April 5th marks the end of the UK tax year. Several important allowances and reliefs reset on April 6th — and if you haven't used them, they're gone. This checklist covers the most impactful things to do before the deadline, whether you're a saver, investor, employee, or self-employed.
1. Use Your ISA Allowance
You can save up to £20,000 tax-free in ISAs this tax year. This includes Cash ISAs, Stocks and Shares ISAs, and Innovative Finance ISAs. Any unused allowance vanishes on April 6th. Even if you can only contribute a small amount, it's worth doing — the tax-free wrapper stays in place permanently. If you already have an ISA, check the rate is still competitive. You can transfer to a better provider without losing the tax-free status.
2. Top Up Your Lifetime ISA
If you have a LISA, you can contribute up to £4,000 this tax year and receive the 25% government bonus (up to £1,000). The bonus is usually paid within 4-8 weeks of your contribution. If you're close to the £4,000 limit, top it up before April 5th. If you haven't started one and you're under 40, open one now — even with a small amount — to start the 12-month clock ticking.
3. Review Pension Contributions
The annual pension allowance is £60,000 (or 100% of your earnings, whichever is lower). If you haven't maximised this, additional contributions before April 5th reduce your tax bill. Higher-rate taxpayers get 40% tax relief on pension contributions — that's effectively the government doubling your money. You can also carry forward unused allowances from the previous 3 tax years if your employer scheme allows it.
4. Use Your Capital Gains Tax Allowance
The CGT annual exempt amount is £3,000 for 2025/26. If you have investments outside an ISA with unrealised gains, consider selling enough to use this allowance — then reinvest if you wish (known as 'bed and ISA' if you repurchase within an ISA). This effectively shelters £3,000 of gains from tax every year. It's especially valuable if you're sitting on large gains that will only grow.
5. Check Your Tax Code
Your tax code determines how much income tax you pay through PAYE. An incorrect code means you might be overpaying or underpaying tax. Check your tax code on your payslip and compare it to what HMRC says via your Personal Tax Account online. Common errors include not receiving your full personal allowance, or still being taxed for a benefit-in-kind you no longer receive.
6. Claim Marriage Allowance
If one partner earns less than the personal allowance (£12,570) and the other is a basic-rate taxpayer, you can transfer £1,260 of the lower earner's allowance to the higher earner. This saves the couple up to £252 per year. You can backdate claims for up to 4 previous tax years, potentially reclaiming over £1,000. Apply through HMRC's website — it takes 10 minutes.
7. Make Charitable Donations
If you're a higher-rate taxpayer and have made Gift Aid donations this year, you can claim back the difference between basic and higher-rate tax relief through your self-assessment return. On a £100 Gift Aid donation, the charity claims £25 from HMRC, and you can claim back an additional £25 in tax relief. If you're planning a donation, make it before April 5th to claim relief in this tax year.
8. Use Your Dividend Allowance
The tax-free dividend allowance is £500 for 2025/26. If you're a company director paying yourself dividends, or you hold shares outside an ISA, plan your dividends to use this allowance. Amounts above £500 are taxed at 8.75% (basic), 33.75% (higher), or 39.35% (additional rate).
9. Review Self-Assessment
If you're self-employed or have income outside PAYE, make sure your record-keeping is up to date for the 2025/26 tax year. While the filing deadline isn't until January 2027, organising records now (while the year is fresh) saves stress later. Note any expenses you can claim, and file early if possible — you'll know exactly what you owe and can plan accordingly.
10. Plan Ahead for Next Year
Use the last few days of the tax year to set up good habits for the next one:
- •Set up automatic ISA contributions starting April 6th.
- •Increase pension contributions if you got a pay rise.
- •Set calendar reminders for quarterly financial reviews.
- •Review and adjust your budget for the new tax year.
- •Check if any allowances or thresholds are changing — the Spring Budget often introduces changes that take effect from April.
FAQ
When exactly does the tax year end?+
The UK tax year runs from April 6th to April 5th. So the 2025/26 tax year ends at midnight on April 5th 2026. The 2026/27 tax year starts on April 6th 2026.
Can I do everything on this list on April 5th?+
Some things can be done last minute (ISA contributions, charitable donations), but others take processing time (pension contributions, LISA top-ups). Aim to complete everything by April 1st to avoid last-minute technical issues.
What if I miss the deadline?+
Unused ISA and LISA allowances are gone. Other items (pension carry-forward, Marriage Allowance backdating) may still be claimable. But prevention is better than cure — set reminders and act early.
#tax-year#isa#pension#financial-planning
Start Your Savings Journey Today
20+ savings challenges, daily tracking, and achievement badges -- all free.
Download on the App Store