Year-end tax guide 2025/26

As we approach the end of the 2024/25 tax year, it’s important to understand the changes from the financial year, and prepare for the year ahead.

Borrowing costs have begun to ease from recent highs, but interest rates remain relatively elevated by historical standards. Inflation has cooled from its peak, although day-to-day expenses remain a concern for many households and a pressure point for cashflow in a lot of businesses. Against that backdrop, it pays to be deliberate about how you earn income, fund investments, and protect your longer-term wealth.

Policy has also continued to shift. Recent Budgets have combined revenue-raising measures with targeted support, and there have been notable changes affecting employers, including higher employer National Insurance and an expanded Employment Allowance from April 2025. For individuals, frozen thresholds and tighter allowances in some areas mean that small decisions can have a larger tax effect than you might expect.

Year-end planning is not only about ticking the compliance box.  It’s an opportunity to utilise reliefs and allowances fully before they reset on 6 April 2026. That might involve utilising ISA allowances, reviewing pension contributions, planning for capital gains, or taking sensible steps regarding inheritance tax, depending on your circumstances.

This guide is designed as a practical reference. It brings together the main allowances, reliefs, and exemptions, with clear planning points you can act on before the tax year closes.

For tailored advice and strategic planning to implement any of the suggestions in the guide, get in touch with your local TC Group office.

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