As we move into the final weeks of the tax year, many people start to wonder whether there’s anything they should be doing before 5 April - or whether it’s already too late.
The truth is, while some opportunities disappear once the tax year ends, there are often still simple, sensible areas worth reviewing. Tax planning doesn’t need to be complex or aggressive. In most cases, it’s about awareness, timing, and making informed decisions before deadlines pass.
What tax planning really means
When people hear “tax planning”, they often imagine complicated schemes or last-minute fixes. In reality, good tax planning is far more straightforward. It’s about understanding where you stand and whether there are allowances, reliefs, or timing decisions that could make a genuine difference.
Once the tax year ends, many of these options are no longer available - which is why a short review before 5 April can be so valuable.
Areas still worth reviewing
Depending on your circumstances, it may be worth considering:
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Income and timing – whether income falls into this tax year or the next
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Pension contributions – ensuring allowances are used efficiently
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Personal allowances and tax bands – particularly where income fluctuates
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Rental income and expenses – making sure everything is recorded correctly
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Capital gains – reviewing disposals and available exemptions
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Business owners – dividends, drawings, and year-end decisions
This isn’t about ticking every box - it’s about identifying which conversations are relevant to you.
Why this year matters more than most
Looking ahead, April 2026 brings the start of Making Tax Digital for Income Tax for those it applies to. While this won’t change the amount of tax paid, it will change how often information is reported, placing greater emphasis on keeping records up to date throughout the year.
Using this tax year end as a chance to review systems, records, and habits can make that transition far smoother.
A practical approach
At Donaldson Ross & Co, we see tax planning as an ongoing conversation, not a last-minute scramble. Taking a bit of time before 5 April to understand your position can reduce surprises, ease pressure later in the year, and help you feel more in control.
If you’re unsure whether there’s anything worth reviewing before the tax year ends, a brief conversation now can often save time, stress, and uncertainty later.