The Importance of a Financial Health Check

With life moving quickly, it's too easy to not pay enough attention to your own finances. For many, the new tax year is the perfect time to set themselves new goals and to begin to plan for the year ahead. However, very rarely do we bring our financial future into these plans as much as we should.

So, why not make this year the year that you begin to give your personal finances the help and care that they really deserve?

What Can You Do?

Savings Goals

Are your savings working as hard for you as they should? Have you managed to find time to review your interest rates? Or are you simply allowing your providers to pay you a minimal return?

Cash is an excellent place to keep your savings if your plans are focused on the shorter term. But if your plans are focused more on the longer term, then you should really be asking yourself if it is in the most suitable place. After all, investments historically have far greater potential for growth over the longer term than cash. By shying away from investing, you could actually be doing yourself more harm than good.

ISA Allowance

Every individual over age 16 has an annual ISA allowance of £20,000 each tax year (6 April – 5 April). This allows your money to grow free of any income or capital gains tax, ensuring an efficient yet easily accessible savings pot should you ever require it.

Important: Any unused ISA allowance cannot be rolled over into the next tax year — use it or lose it!

Note for 2026/27: This is the final year that the full £20,000 cash ISA limit applies to under-65s. From April 2027, the cash ISA limit for those under 65 will reduce to £12,000 per year (those 65+ retain the full £20,000).

Check Your Pensions

Look at your pensions and ask yourself the following:

1. Can you put more money in than you currently are?

Pensions continue to be one of the most efficient ways to save for your future.

2. What are you invested in and has it performed as expected?

Risk versus reward is a key component of investing. Ensuring you have a clear understanding of it and what this means in terms of your own pension is key.

3. Is your selected retirement age up to date with your current plans?

This is important to avoid any nasty shocks or potential lost growth due to changing plans.

4. Have you considered the April 2027 changes?

From April 2027, pensions will be included in your estate for inheritance tax purposes. This could affect your estate planning and the legacy you leave.

Getting Professional Advice

Ultimately, if you are concerned about your finances and feel that a full review of your financial plans with a financial adviser is something that would be of benefit to you, please feel free to contact us. We can arrange an initial consultation to discuss your plans and needs further, with no obligation.

Figures quoted are correct as at September 2026. Tax rules, allowances and thresholds can change.

Important: This article is for information only and does not constitute financial advice. Financial planning depends heavily on your individual circumstances, goals, and timeframe. Tax rules and allowances can change. Before making changes to your savings, investments, or pensions, please seek advice from a qualified financial adviser.

For a confidential discussion about your financial situation, please contact us.