Your 2025 financial calendar – Dates to remember

There’s nothing like the beginning of a New Year to focus your mind on getting around to reviewing your money matters.

Even with inflation now rising at a much slower rate and close to the Bank of England’s 2% target, there are still pressures on household finances such as personal taxes which means it remains important to keep a close eye on your money matters.

Knowing about the key financial dates is crucial if you want to stay on top of incoming changes and to make the most of your investments.

Here are some of the dates and changes you need to know about in 2025.

January

1^st - The VAT tax break for private schools ends

School fees in private schools will be subject to VAT at the rate of 20%.

20^th - American President Inauguration

The inauguration of Donald Trump as the 47^th president of the United States is scheduled to take place on 20^th January marking a new economic era for the US.

31^st - Self-assessment deadlines

• By the end of the month those who are required to fill out a self-assessment tax return – which includes the self-employed, high earners and those with income not taxed at source – must file and sign their online return.¹
• It’s also the deadline for the self-employed to pay the tax they owe for 2023/24 as well as a payment on account for the self-employed.²
• Deadline for Capital Gains Tax (CGT) payments on any assets including investments (but excluding residential property) sold in the 2023/24 tax year.³ CGTdue in respect of residential property is due within 60 days of completion.

February

6^th - First Bank of England MPC meeting of 2025

Forecasts suggest this first MPC meeting could result in the next UK interest rate cut.

March

26^th - Spring budget

Chancellor Rachel Reeves will set out a Spring Budget on 26^th March, which could bring new tax measures. One to look out for.

31^st - Stamp duty thresholds rise

The stamp duty threshold was raised from £125,000 to £250,000 in September 2022. The threshold for first-time buyers was also increased from £300,000 to £425,000 – and the maximum that a property can be worth and still benefit from this relief rose to £625,000, up from £500,000. At the end of March, the thresholds will revert, meaning higher stamp duty bills for many homebuyers.

April

5^th - End of tax year

• Investors have until 5^th April to use up their £20,000 ISA allowance – if you don’t use it, you lose it. Be sure to check the cut off times if you’re likely to leave it until the last day. Better still, don’t leave it until the last minute – put a note in your diary in the new year to sort out in advance.
  • The end of the tax year is also the date by which you should use up your annual pensions allowance. In the 2025-26 tax year, you can receive tax relief on up to £60,000 of pension contributions each year (or 100% of your earnings, or minimum of £3,600 if earnings are lower), whichever is lower. Lower allowances may apply if you have already started drawing a pension, or if you are a higher earner with income plus pension contributions that total more than £260,000.
• State pension increase⁴
  • The beginning of the new tax year sees the State Pension rise by 4.1%. This means that the full state pension will increase from £221.20 per week to £230.25 per week providing an extra £470 per year). The maximum basic state pension for those who reached state pension age before April 2016 is currently £169.50 a week and will rise to £176.45 a week worth an extra £360 per year).

6^th - Start of new tax year

• Non-dom tax regime will be abolished.
  • Some of the tax benefits for UK residents whose permanent home is outside of the country for tax purposes will be removed.

July

31^st - Tax payment on account

There’s usually a second payment deadline of 31^st July if you make advance payments towards your tax bill known as ‘payments on account’.

October/November

Budget/Autumn statement

Chancellor Rachel Reeves will make her Autumn Statement in October or November, which could again bring new tax measures. The date will be set closer to the time but in 2024 it was held on 30^th October.