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Tax year end: Your checklist for 5 April

Take a moment to check if your money is working hard enough with our saving and investing accounts. 

Over longer periods of time (five years or more), investments such as stocks, shares and funds have the potential to give you higher returns compared to cash savings. But the value of investments can fall as well as rise. There is a chance you may get back less than you put in. Eligibility criteria, fees and charges apply. 

Make the most of your ISA allowances

If you haven’t used your tax year allowances yet, don’t miss out. Discover the ISA that’s right for you before the deadline.

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Key reminders for the tax year end

The current tax year ends on 5 April 2026, so now could be a good time to check whether you still have any tax allowances left. Using them could help make your money go further, so we’ve pulled together a useful checklist to guide you.

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1. Check your ISA allowance

If you already have an ISA, it's worth checking how much of your allowance you have left this tax year. If you’ve never opened an ISA, or a Junior ISA for your child, you could be missing out on a simple way to save tax-free.

Any money you earn inside an ISA is free from UK income and capital gains tax. 

• ISA allowance: £20,000

• Junior ISA allowance: £9,000 per child

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2. Check your pension contributions

The standard annual allowance is £60,000 for this tax year, covering both personal and workplace pensions.

If you want to make the most of that allowance, consider topping up your workplace pension or private pension. If you don't have a pension yet, we could help set you up with one. 

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3. Be aware of future tax allowances

Not all allowances roll into the next tax year, so it helps to know which ones you may lose:

ISA allowances don’t carry over: It’s “use it or lose it” each tax year, however, they do reset each April so you’ll get a fresh £20,000 allowance on 6 April 2026. From April 2027, this rule will slightly change. You’ll still have a total ISA allowance of £20,000, but if you're under 65, you’ll only be able to put £12,000 of that into a cash ISA specifically.

Pensions work differently: In some cases, you could carry forward unused pension allowance from the previous three tax years. It’s important to do your research before you rely on carrying over any pension allowance to this tax year. 

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4. Try to stay within your Personal Savings Allowance

A key benefit of ISAs is that interest from a cash ISA or returns from a stocks & shares ISA do not count towards your Personal Savings Allowance (PSA).

The PSA is the amount you can earn without paying tax and varies by income tax band:

£1,000 for Basic Rate taxpayers

£500 for Higher Rate taxpayers

£0 for Additional Rate taxpayers

Regular savings account interest over your PSA may be taxable and could require a self-assessment tax return. Opting for a cash ISA or stocks and shares ISA could help you maximise your savings without the need for a tax return. 

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Important information

Tax reliefs referred to are those applied under current UK legislation, which may change. The availability and the value of any tax relief will depend on your individual circumstances. 

How can we help?

If you haven’t used all of your allowances this tax year, there could still be time. Find out what’s right for you to make the most of your allowances before the tax year ends as well as review our deadlines for topping up and applying to your savings and investment accounts.

Stocks and Shares ISA

Choose from five ready-made funds made up of stocks and bonds and give your money the opportunity to grow over the long term. Investment returns are free from UK income and capital gains tax. 

Open and pay in to a Stocks and Shares ISA by 8pm on 2 April 2026 if you want to use this tax year’s allowance.

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Fixed Rate or instant access Cash ISA

Whether you want to lock away your cash for a year or two with a guaranteed rate, or keep your money accessible with instant access and a variable rate, we could have a Cash ISA to help build your savings.

 

Open and pay in to a Fixed Rate or instant access Cash ISA by 5pm on 2 April 2026 if you want to use this tax year's allowance.

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Junior ISA

Start building towards a child’s future for them to access once they turn 18 – for university expenses or helping them get on the property ladder. 

Open and pay in to a Junior ISA by 8pm on 2 April 2026 if you want to use this tax year’s allowance.

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Royal Bank Pension

Help get retirement ready with a personal pension. It’s a long-term investment plan that includes government tax relief to help you build towards your retirement goals.

Open and pay in to a Royal Bank Pension by 5pm on 30 March 2026 if you want to use this tax year's allowance.

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Things to know about our products

Eligibility criteria, fees, and charges apply. 

Royal Bank Pension:

  • You must be 18-75 to contribute.
  • You can't contribute if you're a US citizen or Green Card holder.
  • You can normally access your pension from age 55.
  • Transferring existing pensions may involve exit fees.
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You could win £20,000 when you invest with Royal Bank

For every £50 you invest in a Royal Bank Stocks and Shares ISA, you’ll get one entry into the prize draw. The more you invest, the more chances you have to win!

For a chance to win first prize of £20,000, 10 prizes of £1,000 or 200 of £100. Enter between 12th January and 30th April 2026.

T&Cs, fees and charges apply.

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