Tax Year End Checklist: 12 Things to Review Before 5 April

With the end of the tax year on Sunday 5 April 2026 approaching, now is an ideal time to pause, review your finances and make sure you are not missing out on valuable allowances or tax reliefs. A little planning now can make a meaningful difference, particularly when it comes to tax efficiency.

We appreciate that tax planning is rarely anyone’s idea of exciting reading. The rules can feel complex and the deadlines easy to overlook. The good news, however, is that you don’t have to navigate it alone. One of our roles at Stringer Mann Chartered Financial Planners is to do the detailed work behind the scenes, identifying the opportunities available to you and making the process clear, straightforward and manageable.

Here are 12 key areas to consider before the current tax year closes:

1. Maximise your ISA allowance

The ISA allowance remains £20,000 per person. Any unused allowance is lost at the end of the tax year, so it’s worth checking whether you can make any additional contributions before the 5 April.

2. Use your partner’s ISA allowance

If you have a spouse or civil partner, they also have their own £20,000 ISA allowance. Together, this could mean up to £40,000 invested tax efficiently each year.

3. Consider Junior ISAs for children or grandchildren

You can invest up to £9,000 per child or grandchild into a Junior ISA. While a parent or guardian must set it up, anyone can contribute, making it a useful way to pass money down tax efficiently.

4. Review pension contributions

If your income allows, consider whether you can use your full annual pension allowance. You may also be able to carry forward any unused allowances from the previous three tax years, potentially increasing how much you can contribute.

5. Plan large pension withdrawals carefully

If you are approaching retirement and considering a significant pension withdrawal, spreading it over more than one tax year may help reduce your overall Income Tax bill.

6. Use your Capital Gains Tax allowance

The Capital Gains Tax annual exempt amount is £3,000. If you have assets that may be sold, using this allowance before the tax year ends can help limit the tax due.

7. Reduce taxable income if you are a higher earner

For higher earners, additional pension contributions or charitable donations can help reduce taxable income. This may:

• Extend the threshold before additional rate tax applies
• Help preserve the Personal Allowance, which reduces once income exceeds £100,000
• Protect Child Benefit, which begins to taper when one parent earns over £60,000

8. Make use of the Inheritance Tax annual exemption

You can gift up to £3,000 each tax year free from Inheritance Tax. If last year’s exemption was unused, it can be carried forward for one year, allowing gifts of up to £6,000 before 6 April 2026.

9. Review business remuneration

Business owners may want to consider whether taking dividend income, instead of or alongside a salary, could be more tax efficient. Dividend income above the £500 allowance is taxed at lower rates than a salary, although professional advice is essential to determine the right balance.

10. Check National Insurance implications

Changes to how income is taken, particularly for business owners, may also help reduce National Insurance contributions, depending on personal circumstances.

11. Carry out a tax health check

A full review can help ensure you are using all available allowances and reliefs, and that your financial planning still aligns with your goals.

12. Take advice before the deadline

Tax rules and allowances can change, and outcomes depend on individual circumstances. Speaking to a professional Adviser well ahead of the deadline allows time to act, rather than rushing decisions in late March.

Tax planning is not always the most engaging topic but getting it right can make a real difference to your long-term financial position. Our job is to take care of the technical detail, keep track of the deadlines and guide you through the options, so you can focus on what matters most to you.

If you would like help reviewing your position before the end of the tax year, the team here at Stringer Mann would be happy to talk through your options and help you plan with confidence.

You’ll find all our contact details on our website at: www.stringermann.com/contact

The value of an investment with St. James's Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than the amount invested.

The levels and bases of taxation and reliefs from taxation can change at any time and are generally dependent on individual circumstances