Your new tax year checklist
Want to take control of your finances this 2025/26 tax year? The new tax year offers a fresh opportunity to optimise your finances and make the most of your money. From reviewing your payment settings to setting new goals, these tips will help you build wealth with confidence, and ensure you’re taking advantage of key allowances.
Key tax and savings information for 2025/26:
- ISA allowance: The maximum ISA allowance remains at £20,000 – you can save and invest up to this amount across all ISA accounts.
- Pension contributions: You can still save up to £60,000 across your pension pots this tax year. However, there’s a cap on contributions that attract tax relief, which will depend on your personal circumstances.
- Capital Gains Tax (CGT) allowance: The CGT exemption is £3,000 for individuals. For the current 2025/26 tax year, remember that the rate of Capital Gains Tax is 18% for basic rate taxpayers and 24% for higher rate taxpayers. These rates increased from 10% and 20% respectively on 30th October 2024.
- Dividend allowance: The dividend allowance is £500. Dividends exceeding this are taxed at 8.75% for basic rate taxpayers, 33.75% for higher rate taxpayers, and 39.35% for additional rate taxpayers.
Optimise your payment settings
Small changes can make a big difference, so consider setting up a weekly deposit. Even depositing £10 a week adds up to £520 annually! This consistent approach helps you reach your savings goals steadily. For an extra boost in the 2025/26 tax year, review your current payment settings or set up a weekly deposit if you haven’t already.
Helpful tip: Automate your savings by setting up a Payday Boost – a direct debit for a specific amount each payday. This helps you stay consistent, making saving a habit rather than a chore.
Consolidate your ISAs for easy management
Simplify your finances by transferring existing ISAs to Moneybox. See all your accounts in one place, making it easier to track your overall wealth. Plus, take advantage of our competitive rates on Cash Lifetime ISAs and Cash ISAs.
Helpful tip: Before transferring, check for any transfer fees or penalties from your current provider.
ISA and tax rules apply.
Govt. withdrawal charge may apply to Lifetime ISAs. For S&S LISA, capital at risk.
Activate round ups to save effortlessly
Turn on round ups to save and invest your spare change. This feature rounds up your everyday spending to the nearest pound, with the difference going straight into your preferred account.
Helpful Tip: Increase your savings by using the super round ups setting which allows you to double your round up value. For example, if you’ve saved £5 a week in round-ups, this will boost it to £10.
Set new financial goals for 2025/26
Make this tax year your most successful yet by setting new financial goals. Whether you’re saving for a house or a special purchase, having clear goals will keep you motivated and on track. We offer a range of saving and investing accounts to help you grow your money.
- Lifetime ISA: Ideal for first-time homebuyers or those saving for retirement*, you can save up to £4,000 each tax year and receive a 25% government bonus—up to £1,000 free on all contributions.This bonus can boost your savings! Government withdrawal charge may apply. ISA and tax rules apply.
- Cash ISA: Get tax-free interest to grow your savings. Earn a competitive rate on your contributions. ISA and tax rules apply.
- Stocks & Shares ISA: Invest up to £20,000 annually with tax-free gains. The longer you leave your money invested, the more chance it has to grow, but your capital is at risk. ISA and tax rules apply.
Helpful tip: Break down your long-term goals into smaller, achievable milestones. This makes them less daunting and keeps you motivated.
Build an emergency fund
Building an emergency fund is one of the smartest things you can do for your future peace of mind. An emergency fund is there to help you handle unexpected income changes, like redundancy, sudden medical bills, or urgent home repairs, and other unforeseen costs.
And just like those round ups adding up, you’ll be surprised how quickly you can create a financial safety net with our Simple Saver. Earn a competitive rate that can help you build a more secure future. It’s an easy, accessible way to protect yourself from life’s unexpected turns, offering next-day withdrawals.
The Simple Saver account lets you withdraw once per calendar month. Other accounts available.
*It’s important to consider your personal circumstances and the relevant pros and cons offered by each type of account. You can pay into a Workplace Pension, and/or a Personal Pension (SIPP) as well as a Lifetime ISA. If you decide to opt out of your workplace pension and instead pay into a Lifetime ISA, you will not benefit from any employer-matched contributions as you would with a Workplace Pension.
It may also affect your current and future entitlement to means-tested state benefits. If considering the Lifetime ISA only for the purposes of retirement, we recommend you speak with an independent financial advisor.