UK Tax Year-End Checklist (2026/27)
Tax year-end checklist 2026/27: ISA £20,000, pension annual allowance and carry-forward, CGT exempt amount, IHT gifts and Gift Aid before 5 April.
Tax year-end checklist
Figures are for 2026/27 and come from GOV.UK (sources below). Most allowances here are per person, so a couple has two of each.
| Action | Deadline | What to do | Priority |
|---|---|---|---|
| ISA allowance £20,000 | 5 April | Subscribe before 5 April. The allowance does not carry forward, and it is shared across all your ISAs. | High |
| Junior ISA £9,000 | 5 April | Each eligible child has their own annual Junior ISA limit. | If applicable |
| Lifetime ISA £4,000 | 5 April | Counts towards the ISA allowance. 25% government bonus, up to £1,000 a year. Open aged 18 to 39, pay in until 50. For a first home or from age 60; other withdrawals carry a 25% charge. | Under-40s |
| Pension annual allowance £60,000 | 5 April | Contributions must be paid within the tax year. Unused allowance from the previous 3 tax years may be carried forward. Personal contributions only get relief up to your relevant UK earnings (or £3,600 gross if higher). | High for higher earners |
| CGT annual exempt amount £3,000 | 5 April | Unused exemption is lost at year end. Realising gains inside the exemption, or moving holdings into an ISA ("bed and ISA"), uses it. | If you hold taxable investments |
| Dividend allowance £500 | 5 April | Dividends within the allowance are taxed at 0%. It does not carry forward. | Company owners, investors |
| Personal Savings Allowance £1,000 / £500 | - | Basic-rate / higher-rate taxpayers; additional-rate taxpayers get none. Interest above it is taxable; cash ISAs are outside it. | Reference |
| Marriage Allowance £1,260 | Any time (backdate to 6 April 2022) | If one partner earns less than the Personal Allowance and the other is a basic-rate taxpayer, the lower earner can transfer £1,260, saving up to £252 a year. | If eligible |
| IHT annual exemption £3,000 | 5 April | Unused exemption carries forward one tax year only. Separate small-gift exemption of up to £250 per person, not combinable with another allowance for the same person. | IHT-exposed estates |
| Gift Aid carry-back | When you file (by 31 January) | Gifts made in the current year, up to the date you file your return, can be claimed in the previous year (ITA 2007 s.426), if the return is filed on time. | Medium |
| EIS / SEIS / VCT | 5 April | Income Tax relief at 30% (EIS), 50% (SEIS) or 20% (VCT). EIS and SEIS investments can be treated as made in the previous tax year; VCT relief is only for the year you invest. | High earners |
| Income Tax thresholds | 5 April | Pension contributions and Gift Aid reduce adjusted net income, which matters at £60,000-£80,000 (Child Benefit charge) and £100,000 (Personal Allowance taper, gone by £125,140). Higher rate starts at £50,270. | At threshold crossings |
| Annual Investment Allowance £1,000,000 | End of accounting period | Qualifying plant and machinery bought in the period can be deducted in full, up to the cap. | Self-employed |
| Gifts out of surplus income | Ongoing | Regular gifts made out of income that leave your normal standard of living intact are exempt from IHT (IHTA 1984 s.21). Keep records of income and spending. | High-income, IHT-exposed |
Related guides
Frequently asked questions
Why does the 5 April deadline matter?
The UK tax year runs from 6 April to 5 April. Several allowances are lost if unused by 5 April: the £20,000 ISA allowance, the £3,000 CGT annual exempt amount and the £500 dividend allowance. Two can be carried: unused pension annual allowance for up to 3 tax years and the £3,000 IHT annual exemption for 1 tax year (GOV.UK).
What is the bed-and-ISA strategy?
You sell investments held outside an ISA and buy them back inside an ISA. The sale is a disposal for CGT, so it can use your £3,000 annual exempt amount, and the repurchase uses part of your £20,000 ISA allowance. Future growth and income inside the ISA are free of UK tax. Check dealing costs and the price you get on the day.
What is the bed-and-spouse strategy?
Transfers between spouses or civil partners who live together are on a no gain, no loss basis (TCGA 1992 s.58), so the receiving partner takes over the original cost. If they then sell, they can use their own annual exempt amount and rate band. The transfer is a real gift: the asset and its future income or proceeds belong to the receiving partner.
How does pension carry-forward work for year-end?
The annual allowance is £60,000. You may be able to carry forward unused allowance from the previous 3 tax years, after using the current year's allowance first (GOV.UK annual allowance). Tax relief on your own contributions is limited to your relevant UK earnings for the year (or £3,600 gross if higher), so carry-forward mainly helps high earners and employer contributions. The tapered allowance can reduce the figure for high incomes.
What is Gift Aid carry-back?
Under ITA 2007 s.426 you can elect to treat Gift Aid donations made in the current tax year, up to the date you send your return, as made in the previous year. It is useful if you paid higher-rate tax last year but will not this year. It must be claimed on a return filed by the deadline (31 January online, 31 October on paper), and the gifts must not exceed 4 times the tax you paid in the previous year (GOV.UK).
How can a couple use both sets of allowances?
Each partner has their own ISA allowance, CGT exempt amount, dividend allowance and Personal Allowance. Marriage Allowance can transfer £1,260 of Personal Allowance to a basic-rate partner, worth up to £252 a year, and can be backdated to 6 April 2022. A non-earning partner can pay up to £2,880 a year into a personal pension, which becomes £3,600 with basic-rate relief added.
How do I check what I have used and what is left?
ISA providers report your subscriptions; keep a running total because the limit applies across all ISAs. Pension providers show your contributions, and you need your own records for each of the last 3 years to use carry-forward. For CGT, keep a list of gains and losses realised in the year. For EIS and SEIS, you need the company certificate (EIS3 or SEIS3) before you can claim.
What changes with Making Tax Digital for Income Tax?
From 6 April 2026 sole traders and landlords within scope must keep digital records and send quarterly updates through compatible software, followed by a tax return by 31 January. There are no penalties for missing a quarterly update deadline for the 2026 to 2027 tax year; the points system (penalty at 4 points, then £200 each time) applies to quarterly updates for later years and to the tax return (GOV.UK MTD penalties).