📊 Have You Done Your Start of Year Tax Checks Yet?

The new tax year has begun — and while January tends to get all the attention, April is actually the perfect time to get your tax affairs in order.

A few simple checks now can save you money, stress, and last-minute panic later in the year.

So, if you haven’t already, here’s a handy checklist to make sure you’re starting the year on the right foot 👇

💷 Make the Most of Your New ISA Allowance

Your £20,000 ISA allowance resets on 6th April, giving you a fresh opportunity to save or invest tax-free.

With tax thresholds frozen, making the most of tax-efficient wrappers like ISAs is more important than ever.

🧾 Check Your Tax Code

It’s more common than you think for tax codes to be incorrect.

If you’ve changed jobs, started a business, begun taking dividends, or added new income streams, it’s worth checking your tax code to make sure you’re not overpaying (or underpaying) tax.

💼 Set Aside Tax (Company & Personal)

If you run a business, good habits now will save you stress later.

Set aside money within your company for Corporation Tax and VAT, and personally for Income Tax and National Insurance. This is especially important if you take dividends or have rental or investment income.

A simple system can make all the difference.

🏠 Making Tax Digital (MTD) – Are You Ready?

Making Tax Digital for Income Tax is on the way.

If you’re self-employed or a landlord earning over £50,000, you’ll be in scope first, with others following.

Now is the time to get your records in order and move towards digital systems if you haven’t already.

💑 Marriage Allowance – Are You Missing Out?

If one partner earns below the personal allowance and the other is a basic rate taxpayer, you may be able to transfer part of the allowance and reduce your tax bill as a couple.

It’s simple to claim — and often overlooked.

💷 Minimum & Living Wage Changes

From 1st April, minimum and living wage rates have increased.

If you employ staff — or pay yourself through payroll — it’s important to make sure your payroll is updated with the correct rates to stay compliant.

🧠 A Few Extra Quick Wins

Review your salary and dividends if you’re a director
Check your expenses and subscriptions are still relevant
Make sure your bookkeeping is up to date
Set clear financial goals for the year ahead

✔️ Start Strong, Stay Ahead

Starting the year with these basics in place will make everything else feel easier — and help you stay in control of your finances.

If you’re unsure where to start or want help reviewing your setup, it’s always worth getting advice early.

📘 Coming soon: What Everyone Needs to Know About Tax — a practical, straight-talking guide to help you save tax, stay compliant, and feel confident about your finances.

Lisa x
Team TaxTalks