The start of a new tax year is the perfect time to take control of your finances, make the most of tax-efficient opportunities, and set your sights on future success. Here are five key things you should do at the turn of the tax-year.

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1. Think ISA – Maximise your allowance

A new tax year means a fresh ISA allowance. You can contribute up to £20,000 across your Cash ISA and Stocks & Shares ISA with Chip.

By making early investment contributions, you allow your investments to grow tax-free for longer, benefiting from the power of compounding. Start building good habits early, and carry the momentum into the year ahead. ‍

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2. Check your tax code

Your tax code determines how much tax you pay on your earnings. If it’s incorrect, you could be overpaying (or underpaying) tax.

Check your payslip or log into your HMRC account to ensure your tax code is accurate, especially if you've changed jobs or had changes in income. If you’re owed a refund, you could use the money to save or invest.

3. Capital Gains Tax (CGT) resets – Got something to sell?

Each tax year, you get a new Capital Gains Tax allowance, which is currently £3,000 (from April 2025). If you’re considering selling assets such as shares, property (excluding your main home), or other investments, it’s worth planning to maximise this exemption. Selling gradually across multiple tax years can help you reduce your CGT liability. 

4. Using your dividend allowance?

If you have dividend paying shares or funds outside of an ISA, any dividend payments are liable to tax, if they exceed your Personal Allowance.

There were no changes to tax allowances in the Spring Statement, so dividend allowances for the 2025/26 tax-year are £500.

You can always be sure your dividends aren’t liable for tax by investing with a Stocks & Shares ISA.

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5. Look back on the 24/25 tax-year

A new tax year isn’t just about planning ahead, it’s also a great time to take a look back at your financial progress.

Reflect on your savings, investments, debt repayments, and financial goals from the past year. If you made the most of allowances, and hit your planned goals, take stock of your wins and carry that momentum into the year ahead.

If you struggled to get off the ground as much as you would’ve liked — don’t worry, the new tax-year is the perfect time to start on the stuff you’ve been putting off. 

Best,

Oliver 

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When investing, your capital is at risk.  The value of your investments can go down as well as up and you may get back less than your original investment. Chip does not provide financial advice.

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Seccl Custody Limited is the ISA Manager for the Chip Stocks and Shares ISA. A monthly or annual ChipX membership required for certain funds selected within a Stocks and Shares ISA. Fund management charges apply and ISA limits apply. Invest £20k per tax year. Chip does not provide tax or financial advice. Tax treatment depends on individual circumstances and may be subject to change in the future.

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GIA proceeds are potentially taxable, subject to any annual exemption that may apply.

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Savings

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