Spring Into the New Tax Year: Five Things Worth Doing in April

Spring Into the New Tax Year: Five Things Worth Doing in April

A column from Victoria Whittington, Victoria Whittington Financial Planning

The 6th April quietly marks the start of a new tax year and for most of us it passes without much thought. But it’s actually one of the best moments in the calendar to take stock of your finances. Here are five simple things worth considering this spring.

1. Use your ISA allowance from the start

Each tax year every adult receives a fresh £20,000 ISA allowance. Many people wait until March to use it. Starting in April instead means any growth is sheltered from income and capital gains tax for a full twelve months longer. A small habit that adds up meaningfully over time.

2. Check your pension contributions

If you receive a pay rise this year, it’s worth considering putting a portion straight into your pension before lifestyle costs absorb it. Eligible contributions benefit from tax relief, meaning a basic rate taxpayer sees £800 become £1,000 invested. Higher and additional rate taxpayers can reclaim additional relief through self-assessment.

3. Think about gifting

Each tax year you can gift up to £3,000 completely free of inheritance tax. This allowance resets in April and, if you didn’t use last year’s, you can carry it forward once, meaning up to £6,000 can be gifted this month. For those thinking about passing on wealth, it is one of the simplest tools available.

4. Review your will and pension nominations

A new tax year is a natural prompt to check that your will still reflects your wishes and that your pension nomination forms are up to date. Pensions sit outside of a will, so who receives yours is determined entirely by your nomination. It takes minutes to check and can make an enormous difference.

5. Talk to someone

Financial planning doesn’t need to be complicated or time consuming. Often a single conversation is enough to make sure you’re not missing something straightforward. If any of the above has prompted a question, I am always happy to have an informal chat over coffee.

The value of an investment with St. James’s Place will be directly linked to the performance of the funds you select, and the value can therefore go down as well as up. You may get back less than you invest,

The levels and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief generally depends on individual circumstances.

Will writing involves the referral to a service that is separate and distinct to those offered by St. James’s Place. Wills are not regulated by the Financial Conduct Authority.

Victoria Whittington

Financial Planner & Founder

01285 402309

www.victoriawhittington.co.uk

Victoria Whittington Financial Planning is an Appointed Representative of and represents only St. James’s Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the group’s wealth management products and services, more details of which are set out on the group’s website https://www.sjp.co.uk/products. The ‘St. James’s Place Partnership’ and the titles ‘Partner’ and ‘Partner Practice’ are marketing terms used to describe St. James’s Place representatives

SJP Approved 25/03/2026