The end of the tax year is fast approaching. And while it might feel like just another date in the calendar, it can be one of the most valuable opportunities to take control of your finances.
With a little forward planning, you can make smarter use of allowances, reduce unnecessary tax, and set yourself up more confidently for the year ahead.
In this guide, we’ll walk through some of the key areas to review before 5 April—and how small actions now can make a meaningful difference over time.
Why the end of the tax year matters
Each tax year comes with a range of allowances and reliefs designed to help you manage your money more efficiently. But many of these are “use it or lose it”.
If they’re not used before 5 April, they rese. And the opportunity is gone.
This is especially important in the current environment, where tax thresholds have been frozen for several years. As a result, more people are being drawn into higher tax bands over time, often without realising it.
Taking time to review your position now can help you stay in control.
Make the most of your ISA allowance
ISAs remain one of the simplest and most effective ways to invest tax efficiently.
For the current tax year, you can contribute up to £20,000. Any growth or income within an ISA is free from income tax and capital gains tax.
If you haven’t used your allowance yet, this is your opportunity.
Even if you don’t use the full amount, contributing something is still a positive step.
Over time, building ISA savings can create a valuable tax-free pot to support your future plans. Whether that’s retirement, supporting family, or giving yourself more flexibility.
Review your pension contributions
Pensions remain one of the most tax-efficient ways to save for the future.
You can typically contribute up to £60,000 per year, with tax relief applied to your contributions.
For many people, this is an opportunity not just to save, but to reduce their current tax bill.
This can be particularly valuable if your income is close to key thresholds.
For example, individuals earning over £100,000 may begin to lose their personal allowance, creating an effective tax rate of up to 60% in that range.
Strategic pension contributions can help bring income back below this level.
Use your Capital Gains Tax allowance
If you have investments outside of tax wrappers, it’s worth reviewing your position before the end of the tax year.
Each individual has a Capital Gains Tax allowance of £3,000. If you don’t use it, it cannot be carried forward.
This creates an opportunity to realise gains in a controlled way, making use of the allowance each year rather than building up a larger tax liability in the future.
In some cases, it may also be worth reviewing losses, as these can be used to offset gains.
Consider gifting and inheritance planning
Inheritance Tax planning is becoming increasingly important for many families. Allowances have remained frozen for years, while asset values have continued to rise. This means more estates are now exposed to potential tax.
There are simple steps you can take each year to reduce this exposure. For example:
- You can gift up to £3,000 each tax year without it forming part of your estate
- This allowance can be carried forward for one year if unused
- Regular gifts from surplus income may also be exempt
Over time, these smaller actions can significantly reduce the value of your estate.
Be aware of key tax thresholds
There are several points in the tax system where small changes in income can have a disproportionate impact. These include:
- The £100,000 threshold, where your personal allowance begins to reduce
- The High-Income Child Benefit Charge from £60,000
- Dividend and savings allowances, which vary depending on your tax band
Understanding where you sit in relation to these thresholds can help you plan more effectively.
In some cases, relatively small adjustments (such as pension contributions or charitable donations) can help you avoid higher tax charges.
Small steps, meaningful impact
End of tax year planning does not need to be complicated. Often, it’s about taking a step back, reviewing your position, and making a few well-informed decisions.
You don’t need to do everything at once. But doing something is always better than doing nothing.
If you’re unsure where to start, or want to make sure you’re making the most of the opportunities available to you, we’re here to help.
At Integra, we support women in building financial confidence and making informed decisions about their future.
Download the full guide here.
