As the end of the tax year approaches, it’s a good time to pause and check whether you’ve made the most of the allowances available to you. Miss them, and in many cases they’re gone for good.
The tax year ends on 5 April, and while that date comes around every year, many people still leave simple opportunities on the table.
Here are a few areas worth reviewing before the deadline.
1. Have you used your ISA allowance?
Each tax year, you can save or invest up to £20,000 into an Individual Savings Account (ISA). Any unused allowance cannot be carried forward, so once the tax year ends, it’s lost.
ISAs are a simple way to protect money from tax. Over time, sheltering savings from Income Tax and Capital Gains Tax can make a meaningful difference, particularly for couples who can use two allowances.
2. Are you holding more cash than you need?
Many people keep money in cash because it feels safe. However, inflation steadily reduces its real value over time.
The tax year end is a good point to consider whether some of that cash could be better positioned, in a way that still suits your plans and comfort level.
3. Have you reviewed your pension contributions?
Pensions remain an important part of long-term planning. Before the end of the tax year, it’s worth checking whether contributions are on track or whether unused allowances from earlier years could be used.
4. A timely review makes a difference
Life changes, and so should your financial plans. The tax year end provides a natural opportunity to review where you are and make small adjustments that can have a lasting impact.
Leaving things until the last minute often limits your options. A brief conversation ahead of the deadline can help you start the new tax year with greater clarity and confidence.
The value of pensions and the income they produce can fall as well as rise. You may get back less than you invested.
Taxation advice is not regulated by the Financial Conduct Authority.
Approver Quilter Financial Services Limited. 06/02/2026
About the author: David Braithwaite is a highly regarded financial expert, known to many as BBC Radio Kent’s “Money Mentor,” where he shares practical advice and insights on managing money effectively. As the founder of Citrus Financial, David has built a reputation for providing tailored financial guidance to individuals and families, helping them achieve their financial goals with confidence.
