Financial planners are urging families to review their use of allowances and reliefs before the deadline. The message, according to advisers, is that inaction could mean missed opportunities to protect income, savings and estates.<\/p>\n\n\n\n
As the 2025\/26 tax year closes, attention is turning to how effectively individuals have structured their finances. Emma Sterland<\/a><\/strong>, chief financial planning officer at Evelyn Partners<\/em>, said the approaching deadline should serve as a prompt for reassessment. \u201cAs the 2025\/26 tax year draws to a close, it\u2019s important to reflect on whether current allowances and reliefs are being well utilised<\/em>,\u201d she said, according to reports.\u00a0<\/p>\n\n\n\n She added that it is also necessary to consider whether financial strategies remain appropriate in light of taxation changes arriving this April and next.<\/p>\n\n\n\n The broader concern centres on frozen tax thresholds, which are increasing the overall burden without changes to headline rates. According to Ms Sterland, the freeze on allowances <\/a>and reliefs means families must ensure they are making the most of their earnings, savings and investments.<\/p>\n\n\n\n She advised that keeping taxable income on the \u201cright side\u201d of the next tax band can be a sensible step where possible. There are, she said, relatively straightforward measures available to reduce taxable income, though these depend on individual circumstances.<\/p>\n\n\n\n Pension contributions are one area of focus. Ms Sterland warned there is no guarantee that the higher annual allowance or carry forward provisions will remain indefinitely. In her view, prioritising pension saving can help individuals retain more earned income while building wealth<\/strong> in a tax-efficient way.<\/p>\n\n\n\n She also highlighted the importance of asset allocation between spouses. Ensuring that assets <\/strong>are held by the partner who pays the lower rate of tax can reduce household exposure. Large cash holdings, she noted, may be unrewarding unless sheltered within a cash ISA.<\/p>\n\n\n\nFrozen Allowances Increase Tax Exposure for Pensioners<\/strong><\/h2>\n\n\n\n