Your tax year end checklist

There’s a lot to think about as the end of the tax year approaches, especially if you’re looking to save as tax-efficiently as you can. As the 5 April deadline isn’t far away, we’ve put together a checklist to help you complete your financial end of tax year tasks with confidence and make the most of your all-important tax allowances.

Get updates on markets, ISA funds, pension saving and much more

Investments - the 3 things on the list

1. Maximise your annual ISA allowance - in the current tax year you can save and invest up to £20,000 and pay no income, dividend or capital gains tax on your investments. Unlike your annual pension allowance, you can’t carry this forward. So, if you don’t use it, you’ll lose it. Read more about ISA allowances.

2. Pay into a Junior ISA - the 2025/2026 allowance for JISA contributions is £9,000. Putting money away for a child gives you an alternative way to save and invest tax-efficiently for your child, giving them a financial boost into adulthood once they reach 18, just when they may need it. Learn more about our Junior ISA.

3. Complete a Bed and ISA - if you haven’t used all of your ISA allowance yet and hold money in an Investment Account, it’s possible to move money from that Investment Account to your ISA.

However, it’s worth noting you’ll be out of the market while the money is being moved, and it counts as a taxable event for Capital Gains Tax (CGT) purposes. Just how long any move might take depends on your provider. So, check with your provider to make sure everything goes through before the end of the tax year.

At Fidelity, we need to receive your completed Bed and ISA form by 27 March 2026 to be able to process it in time. You can complete this online or post it.

• Find the Bed and ISA form here.

Pensions - the 5 things on the list

1. Make the most of your annual pension allowance - each tax year, you can get tax relief on pension contributions up to £60,000 or 100% of your earnings (whatever is lower). If you have no or very low earnings, the allowance is £3,600 including tax relief. Special circumstances may apply if you’ve already taken taxable money from your pension savings. And note that if you’re likely to earn more than £200,000, your annual allowance may be lower, or ‘tapered’. Learn more about pension allowances.

2. Carry forward pension contributions - if you’ve used up your annual allowance for the current tax year, you may be able to make use of any unused annual allowance from the three previous tax years. To do this, you need to adhere to certain conditions so it’s always best to check. Read more about carry forward allowance.

3. Pay into your spouse or civil partner’s pension - if your other half isn’t working or has no earnings you can pay £2,880 each year into a spouse or civil partner’s pension plan, and it will be topped up by the government to make a total contribution of £3,600.

4. Pay into a Junior Self-Invested Personal Pension (JSIPP) - you can also contribute up to £2,880 a year to a Junior SIPP and the government will add £720 basic tax relief (20%), taking the total up to £3,600. Learn more about our Junior SIPP.

5. If you’re already taking retirement income - make use of your personal, savings and dividend allowances for income tax purposes. Think about structuring your income by taking capital and gains from your portfolio to make use of the capital gains allowance, which is currently £3,000.

Tax - the 2 things on the list

1. Capital gains tax (CGT) allowance - the 2025/2026 CGT allowance is £3,000. Learn more about capital gains tax.

2. Reducing your inheritance tax (IHT) bill - there are a number of yearly IHT allowances which could reduce your IHT bill when you pass away. The annual gifting allowance is £3,000 and you can divide this amount between one or more people. You can also carry forward one unused year’s allowance to gift £6,000 in one year. What’s more, you can give £250 per year to as many people as you like, but only if they’ve not already benefited from your annual exemption. And it’s possible to give away regular amounts that you don’t need from your income, as long as these aren’t needed to maintain your standard of living.

Finally, you can contribute to someone's wedding, as long as you gift this amount before the wedding day, and it actually takes place. You can give £1,000 to anyone you know, £2,500 to a grandchild, and £5,000 to a child. A note of caution about gifting… it’s best to keep a record of any gifts, as they may be called into question in the future. Read more about gifts and inheritance tax.

• Read: Your 2025/2026 tax allowances: the basics
• Read: 5 smart moves to make before 5 April
• Read: Financial traps people fall into over the years

Important information - investors should note that the views expressed may no longer be current and may have already been acted upon. Please be aware that past performance is not a reliable indicator of future returns. Tax treatment depends on individual circumstances and all tax rules may change in the future. Withdrawals from a pension product will not be possible until you reach age 55 (57 from 2028). Junior ISAs are long term tax-efficient savings accounts for children. Withdrawals will not be possible until the child reaches age 18. A Junior ISA is only available to children under the age of 18 who are resident in the UK. It is not possible to hold both a Junior ISA and a Child Trust Fund (CTF). If your child was born between 1 September 2002 and 2 January 2011 the Government would have automatically opened a CTF on your child’s behalf. If your child holds a CTF they can transfer the investment into a Junior ISA. Please note that Fidelity does not allow for CTF transfers into a Junior ISA. Parents or guardians can open the Junior ISA and manage the account but the money belongs to the child and the investment is locked away until the child reaches 18 years old. This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice.