Year-End Financial Planning Checklist
for UK Investors

A Practical Guide to Finishing the Tax Year with Clarity

As the tax year draws to a close in April, many people intend to “review their finances” but never quite get around to it. Life intervenes, markets move, and before long, the new year arrives with the same unanswered questions. A year-end financial review doesn’t need to be complex or time-consuming. In fact, some of the most valuable planning steps are straightforward, provided they’re done before the tax year closes.

Our handy checklist is designed to help you sense-check your position, identify missed opportunities, and enter the new tax year with greater clarity and confidence.

1. Review Your Investment Performance

Start with the obvious, but do it thoughtfully. Rather than asking “Did my portfolio go up?”, ask: How did it perform relative to risk taken? How did it compare to a sensible benchmark? Was performance driven by markets or by decisions?

In strong markets, even weak strategies can look acceptable. Year-end is a good time to assess whether returns align with your objectives, your time horizon and your tolerance for volatility. If you’re unsure how to interpret performance reports, that uncertainty itself is worth noting.

2. Revisit Your Asset Allocation

Over the course of a year, market movements can quietly shift your portfolio away from its original balance. Ask: Has equity exposure crept higher than intended? Are you holding more cash than planned? Has risk drifted without a conscious decision?

Rebalancing is not about timing markets; it’s about maintaining discipline, and the year-end is a natural point to realign your portfolio with your long-term strategy.

Rebalancing is not about timing markets; it’s about maintaining discipline, and the year-end is a natural point to realign your portfolio with your long-term strategy

3. Use Your ISA Allowance Before the Tax Year Ends

ISAs remain one of the most valuable tax shelters available to UK investors, so before the tax year ends, consider: Have you used your full ISA allowance? Are you holding taxable investments that could be sheltered instead and are cash ISAs still appropriate given inflation and interest rates? Unused ISA allowance is lost forever once the tax year closes, and even partial use can make a meaningful difference over time.

4. Review Pension Contributions and Allowances

Pensions are often the most powerful and misunderstood planning tool.

Key questions to ask:

• Have you maximised pension contributions where appropriate?
• Are you making full use of employer contributions?
• Are you at risk of breaching annual or lifetime limits?
• Does your pension still align with your retirement plans?

For higher earners and business owners, pension planning at year-end can be particularly valuable but also more complex.

5. Check Capital Gains Tax Exposure

Capital Gains Tax (CGT) often catches people by surprise.

Before year-end, aim at reviewing investments held outside ISAs and pensions; identify unrealised gains; and consider whether gains can be managed or phased over time.

Simple steps taken early can reduce unnecessary tax and increase flexibility later.

6. Reassess Cash Levels

Holding some cash is sensible. Holding too much for too long may not be.

Ask yourself: Is this cash earmarked for a purpose? Is it earning a reasonable return? Is it a strategic holding or simply inertia?

Year-end is a good moment to distinguish between intentional cash and forgotten cash.

7. Review Protection and Contingency Planning

Financial planning isn’t just about investments.

Take a moment to check:

• Life cover.
• Income protection.
• Critical illness cover.
• Emergency reserves, i.e., rainy day money.

Circumstances change, families grow, work patterns shift, dependants come and go. What was appropriate a few years ago may no longer fit.

Circumstances change, families grow, work patterns shift, dependants come and go. What was appropriate a few years ago may no longer fit

8. Update Estate Planning and Beneficiaries

Estate planning often gets postponed because it feels uncomfortable, but it’s essential.

Before year-end:

• Review your will.
• Check pension and investment beneficiaries.
• Ensure powers of attorney are in place.
• Consider whether your wishes are clearly documented

Small oversights here can create significant problems later.

9. Sense-Check Fees and Value

Year-end is a good time to step back and ask a simple question:

Am I getting value for what I’m paying? That doesn’t mean chasing the lowest fee, but it does mean understanding: What services you are receiving; whether advice feels proactive or reactive; whether your arrangement still suits your needs.

Fees matter most when they’re poorly understood.

10. Reflect on Whether Your Financial Arrangement Still Fits

Finally, ask yourself: Do I feel confident about where things are heading? Do I understand my strategy? Do I know who to turn to if markets or circumstances change?

Many people don’t change advisers because something is wrong; they hesitate because they’re unsure whether things are right. Tax year-end reflection often brings that into focus.

Common Year-End Financial Planning Mistakes to Avoid

The most common year-end mistake is doing nothing because everything feels “fine”.

Strong markets can create complacency. Busy lives can delay decisions. But missed allowances, unmanaged risk, and outdated plans quietly compound.

A short review now can prevent bigger problems later.

Strong markets can create complacency. Busy lives can delay decisions. But missed allowances, unmanaged risk, and outdated plans quietly compound

Final Thoughts on Year-End Financial Planning

You don’t need to overhaul everything before the tax year-end. Often, the most valuable outcome is: Clarity and reassurance plus a short list of priorities for the year ahead.

Financial planning isn’t about perfection. It’s about staying aligned as circumstances change. A calm, structured year-end review is one of the simplest ways to do exactly that.