Your Complete UK Tax Planning Checklist for 2026/27
With each tax year ending on 5 April, there is a fixed window to use valuable allowances that cannot be carried forward. Taking a few hours before the year end to review your tax position can save hundreds or thousands of pounds. Here is your complete checklist for the 2026/27 tax year.
Pension Contributions
Check how much you have contributed to pensions in 2026/27 and compare to the Annual Allowance (£60,000, or 100% of earnings if lower). If you have unused allowance from the previous 3 tax years, this is your last chance to carry forward allowance from 2023/24. Pension contributions remain one of the most tax-efficient ways to reduce your income tax bill, protect your Personal Allowance (if income is near £100,000), and reduce the High Income Child Benefit Charge (if applicable). For limited company directors, employer pension contributions are a deductible business expense.
ISA Allowance
Use your £20,000 annual ISA allowance before 5 April. Unused ISA allowance cannot be carried forward. Consider a Stocks and Shares ISA for long-term investment growth sheltered from both income tax and CGT. If you have children, a Junior ISA (£9,000 limit for 2026/27) is also worth using.
Dividend Allowance
The Dividend Allowance is only £500 for 2026/27. If you are a company director, ensure you have declared and paid dividends by 5 April to use this year's allowance. Dividends declared after 5 April fall into 2027/28.
Capital Gains Tax Planning
The CGT Annual Exempt Amount is £3,000 for 2026/27. Consider realising gains up to this level annually — for example, selling some ISA-eligible investments and repurchasing within an ISA to shelter future growth. Transfer assets to a lower-earning spouse before sale. Review any capital losses to offset against gains. Residential property gains must be reported and paid within 60 days of completion.
Marriage Allowance
If one partner earns below £12,570 and the other is a basic rate taxpayer, claim Marriage Allowance. You can backdate claims to 2022/23. This saves up to £252 per year and a lump sum for backdated years.
Gift Aid
Make any planned charitable donations before 5 April to ensure they fall in 2026/27. You can also elect to carry back donations to 2025/26 if you paid higher rate tax that year but may not in 2026/27.
Record-Keeping
Ensure all business income and expenses are recorded and bank accounts reconciled for the year. For MTD for Income Tax participants, ensure all quarterly submissions have been made on time.
Making Tax Digital Preparedness
From April 2026, MTD ITSA applies to self-employed individuals and landlords with income above £50,000. If this applies to you from April 2027 (the £30,000 threshold), start digital record-keeping now. Evaluate and subscribe to MTD-compatible software: Xero, QuickBooks, FreeAgent, or Sage.
Key Dates for 2026/27
5 April 2027 — end of the 2026/27 tax year; final opportunity to use allowances. 6 April 2027 — 2027/28 tax year begins; new allowances reset. 5 October 2027 — Self-Assessment registration deadline for new filers. 31 January 2028 — Self-Assessment online return and payment deadline for 2026/27. 31 July 2028 — Second Payment on Account for 2027/28.
Final Checks
Review your tax code and ensure it is correct for the new year. Check your National Insurance record at gov.uk/check-national-insurance-record to ensure you are on track for 35 Qualifying Years for the full State Pension. If there are gaps, consider voluntary Class 3 contributions — the deadline for topping up from 2006/07 to 2015/16 was extended, but check current HMRC guidance for the latest deadlines. Review your Will and life insurance in the context of your overall estate plan, particularly in light of the IHT changes announced for April 2026 and 2027.
