--- title: "Use it or Lose it: what to do before Tax Year End 2025" description: As Tax Year End approaches on 5 April 2025, now is the time to review your financial situation and take advantage of available allowances. Here are some points you may want to consider. image: https://beaconwm.co.uk/hubfs/social%20version%20of%20header%20image%20(8).png --- [🔒 Personal Finance Portal](https://beaconwm.gb.pfp.net/) [![Beacon Wealth Management](https://beaconwm.co.uk/hs-fs/hubfs/brand-logos/bwm-logo_791x500.jpg?width=791&height=500&name=bwm-logo_791x500.jpg "Beacon Wealth Management")](https://143955714.hs-sites-eu1.com/) [![Beacon Wealth Management](https://beaconwm.co.uk/hs-fs/hubfs/brand-logos/bwm-logo_791x500.jpg?width=791&height=500&name=bwm-logo_791x500.jpg "Beacon Wealth Management")](https://143955714.hs-sites-eu1.com/) - What we offer - [Planning](https://beaconwm.co.uk/planning) - [Retirement & Pensions](https://beaconwm.co.uk/planning#pensions) - [Passing on Wealth](https://beaconwm.co.uk/planning#wealth) - [Health & Protection](https://beaconwm.co.uk/planning#protection) - [Long-Term Care](https://beaconwm.co.uk/planning#care) - [Divorce](https://beaconwm.co.uk/planning#divorce) - [Mortgages](https://beaconwm.co.uk/planning#mortgages) - [Investing](https://beaconwm.co.uk/investing) - [Why invest with us](https://beaconwm.co.uk/investing#why-invest) - [Our Portfolios](https://beaconwm.co.uk/investing#our-portfolios) - [Business](https://beaconwm.co.uk/business) - [Employee Benefits](https://beaconwm.co.uk/business#Employee-Benefits) - [Workplace Pension](https://beaconwm.co.uk/business#Workplace-Pension) - [Business Protection](https://beaconwm.co.uk/business#Business-Protection) - [Corporate Planning](https://beaconwm.co.uk/business#Corporate-Planning) - [Who we help](https://beaconwm.co.uk/who-we-help) - [How it works](https://beaconwm.co.uk/how-it-works) - [Who we are](https://beaconwm.co.uk/who-we-are) - [Insights & News](https://beaconwm.co.uk/insights-and-news) - [Contact us](https://beaconwm.co.uk/contact-us) - [01480 869466](callto:+441480869466) This is a search field with an auto-suggest feature attached. - There are no suggestions because the search field is empty. # Use it or Lose it: what to do before Tax Year End 2025 Planning 13 January 2025 | 1 minute read by Tony Larkins ### As Tax Year End approaches on 5 April 2025, now is the time to review your financial situation and take advantage of available allowances. Here are some points you may want to consider:   ## Use your ISA to save tax-free You can add up to £20,000 per tax year into an ISA, tax free. There are different ISAs available, depending on your goals. ## Use Allowances before they expire Many tax allowances reset each tax year. If you don't use them by 5 April, you could lose them. Review allowances such as Capital Gains Tax (CGT), Dividend Tax and Inheritance Tax (IHT) gifting allowance. ### Max out Pension Contributions You can add up to an additional £60,000 to your pension each year tax-free, and unused allowances can be carried forward for up to three years under the carry-forward rule. This not only boosts [your retirement savings](https://beaconwm.co.uk/who-we-help) but also reduces your taxable income. Pensions provide additional benefits, such as tax relief from the government, making them a tax-efficient investment. ### Beware of the 60% Tax Trap Earning above £100,000 reduces your Personal Allowance, leading to an effective 60% tax rate on income. Pension contributions can mitigate this by reducing your taxable income and restoring lost allowances. ### Plan for CGT and Dividend Tax Changes Changes introduced in the [Autumn Budget](https://beaconwm.co.uk/insights-and-news/autumn-2024-budget-what-does-it-mean-for-you) have lowered the CGT allowance and Dividend Tax allowance. These reductions could lead to higher tax bills if your investments performed well. ### Start Early for the next Tax Year From 6 April 2025, begin making ISA contributions to benefit from a full year of tax-free growth throughout 2025. [Early planning](https://beaconwm.co.uk/planning) helps maximise your returns – the earlier you start investing in an ISA, the more it could grow tax-free. ### The Importance of Year-Round Planning Tax efficiency isn’t just for the end of the tax year. Maintaining a strategy throughout the year ensures you maximise allowances and minimise liabilities. Seeking expert financial advice from a [Chartered Financial Planner](https://beaconwm.co.uk/who-we-are) could ultimately help you make your money work harder for you.   To speak with our local experts, please call us on [01480 869466](https://beaconwm.co.uk/contact-us) for a free initial, no obligation chat. For more information and useful content, visit our [Insights & News](https://beaconwm.co.uk/insights-and-news) page on our website. *Future fees may apply. Registered and regulated by the FCA No. 526604.* [Contact Us](https://beaconwm.co.uk/contact-us)         ## Latest insights and articles [Planning](https://beaconwm.co.uk/insights-and-news/tag/planning) ##### Is Life Complicated? 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