Pensions
Income and allowances
Savings and investments
Business and records
Why 5 April matters
The UK tax year runs from 6 April to 5 April. Allowances such as the ISA allowance, the dividend allowance and the Capital Gains Tax annual exempt amount apply to each tax year, so planning has to happen before 5 April 2027. Pension contributions are measured against the annual allowance for the tax year they're paid in, though unused allowance from the previous three years may be carried forward.
The income cliffs
Above £100,000 of adjusted net income, the Personal Allowance reduces by £1 for every £2 over, until none is left. Above £60,000, the High Income Child Benefit Charge starts to claw back Child Benefit. Adjusted net income is worked out after reliefs such as pension contributions and Gift Aid, which is why contributions made before the year ends can make a difference.
Scottish taxpayers pay different Income Tax rates and bands, but the Personal Allowance taper and Child Benefit charge work the same way.
Related
What else will you need?
- ChecklistNew tax year checklistWhen the 2026/27 tax year starts on 6 April 2026, check your tax code, and employers should update payroll software and new minimum wage rates.PDF
- ChecklistSelf Assessment documents checklistBefore you file a Self Assessment return, gather your UTR and National Insurance number, your Government Gateway sign-in, any P60, P45 or P11D, your business and rental income and expense records, interest and dividend statements, details of anything you sold that may have made a gain, and records of pension contributions and Gift Aid.PDF
- SA303SA303 reduce payments on accountSA303 is HMRC's form for asking to reduce your Self Assessment payments on account when you expect this year's bill to be lower than last year's, for example because profits fell or tax relief went up.
- TemplateDividend voucherA dividend voucher is the record a limited company issues each time it pays a dividend.PDFWord
- SA100SA100 tax returnThe SA100 is HMRC's main Self Assessment tax return.
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Countify can handle this for you, for a fixed fee agreed upfront.
Questions
Frequently asked questions.
When does the tax year end?
On 5 April. The 2026/27 tax year ends on 5 April 2027, and the next one starts the following day.
Can I carry forward unused pension allowance?
You may be able to carry forward unused annual allowance from the previous three tax years and add it to this year's.
Can I still claim Marriage Allowance for earlier years?
HMRC lets you backdate a claim to earlier tax years you were eligible for, within the limit shown on its Marriage Allowance page.
Can Gift Aid made after 5 April count for last year?
In some cases. On your Self Assessment return you can ask for donations made in the current year to be treated as made in the previous year, within HMRC's limits, as long as you file by the deadline.
Checked against GOV.UK on · Reviewed by Kamran Ishaq FCCA, Founder & CEO, on .
Sources: Tax on your private pension: annual allowance (opens in a new tab) (HM Revenue & Customs); Income Tax rates: income over £100,000 (opens in a new tab) (HM Revenue & Customs); High Income Child Benefit Charge (opens in a new tab) (HM Revenue & Customs); Marriage Allowance (opens in a new tab) (HM Revenue & Customs); Individual Savings Accounts (ISAs) (opens in a new tab) (HM Revenue & Customs); Tax on dividends (opens in a new tab) (HM Revenue & Customs); Capital Gains Tax (opens in a new tab) (HM Revenue & Customs); Gift Aid (opens in a new tab) (HM Revenue & Customs).