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Forget 1 January, the New Year that matters for your pocket is the New Tax Year, which started yesterday, 6 April. It's when tax code changes take effect, ISA allowances reset, benefits are uprated & more. So while we covered some of these checks a few weeks back, that was so last (tax) year - even if you checked then, take a few mins now to run through our 8 key 2026/27 checks...

1. SAVER? You've a new cash ISA allowance... Each tax year, anyone aged 18 or older can put £20,000 in total into ISAs. This is about new money you put in, so any money already in ISAs doesn't count towards the £20,000.

The £20,000 is the total limit on the combined amount you put in a cash (savings) ISA, or a shares (investment) ISA, or a lifetime (first-time buyer) ISA (max £4,000). You can put all £20,000 in either cash or shares, or split it across a combination of the three (you can also save/invest a further £9,000 tax-free in a Junior ISA for under-18s).

The 2026/27 allowance kicked in yesterday, and crucially this is the last tax year where many will be able to put the full £20,000 in a cash ISA. From April 2027, it's planned that the annual cash ISA limit will fall to £12,000 for under-65s. The shares ISA will remain at £20,000. The Chancellor argues this is to 'encourage young people to invest.'

But it's business as usual this tax year, and cash ISAs are a clear winner if you pay