A checklist for the end of the 2025/26 tax year

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The current tax year ends on 5 April. Here’s a checklist of a few things you could consider doing before the new tax year begins.

1. Get to know your allowances

This time of year is a good time to brush up on the various ‘allowances’ that might apply to you.

For example, there’s something called the pension annual allowance. This is the total amount that can be paid into a pension plan before a tax charge could apply. It’s currently £60,000.

To make the most of the tax benefits a pension plan has to offer, some people like to use up as much of their allowance as they can in a tax year.

You can find out more about the pension annual allowance – and when your allowance might be different – in our recent article. We also explain a few other allowances, like your capital gains tax allowance, dividends allowance and Individual Savings Account (ISA) allowance. 

2. Check whether you can claim pension tax relief

You can get tax benefits when you pay into a pension plan. These can work in different ways for different people.

If you put money into a plan after you’ve been taxed, your provider claims back some or all of the tax you paid on that amount. They’ll add it to your plan as ‘tax relief’.

But they’ll only claim back tax at a rate of 20%. So if you pay tax at a rate higher than that, you need to claim anything above 20% from the government yourself. You can usually do this through a self-assessment tax return or by contacting HMRC.

Not everyone needs to claim tax back. You can read our article for more information.

3. Keep your contact details up to date on your pension plans

While we’re on the topic of pensions, check that the details on your pension plans, like your home address, are correct. This helps your pension providers contact you with important information.

It’s also worth making sure your providers have a personal email address on record for you, not just your work one. That makes it easier for them to get in touch if you leave your job.

You can normally check and change your contact details online or through your provider’s app, or by getting in touch with them. If you’re a Standard Life customer, you can normally check and change your contact details online or on our app. Or see our support page for FAQs and other ways to get in touch.

4. Look at your payslips

Your tax code, which is made up of numbers and letters, determines how much income tax is taken from your pay. So check that you’re on the right code. There are other places you can find your tax code – you can learn more about tax codes on GOV.UK. And you can use the tax code checker to discover what your tax code means.

And do the other aspects of your payslip look right? If not, this might be something to ask your employer.

5. Find out whether you need to send a self-assessment tax return

The deadline for submitting your self-assessment tax return online for the 2024/25 tax year, and paying any tax you owe, is midnight on 31 January. You might need to fill out a form for various reasons – for example, if you’re self-employed, renting out property, or your total taxable income is over £150,000.

Learn more about who needs to submit a tax return and how to register.

 

The information here is based on our understanding in January 2026 and should not be taken as financial advice.

A pension is an investment. Its value can go down as well as up and could be worth less than was paid in.

Your own personal circumstances, including where you live in the UK, will have an impact on the tax you pay. Laws and tax rules may change in the future.