Today is March 31. Tomorrow, your tax year resets. If you're reading this thinking you've missed your window to earn money from bank switching, stoozing, and savings, I've got good news: there are still moves you can make right now. And more importantly, there's an entire playbook for next year.
Let me walk you through what matters today, what you can still do, and how to build momentum for the tax year that starts in less than 24 hours.
What Actually Happens on April 5?
First, let's clear up a common confusion. The UK tax year technically ends on April 5, not March 31. But practically speaking, April 5 is when ISA optimizer allowances reset, when your Personal Savings Allowance resets, and when a lot of banking strategies realign. By March 31, the real deadline pressure is on.
Here's what resets:
- ISA allowance: Your £20,000 tax-free allowance disappears (unused amount doesn't roll over)
- Personal Savings Allowance: Your interest tax-free threshold resets (basic rate taxpayers get £1,000; higher rate get £500; additional rate get nothing)
- Bank switching bonuses: Offers and availability shift as banks reset promotional cycles
- regular savers cycles: Some banks restart their annual savings windows
If you haven't used these allowances this year, they're gone. Full stop.
What You Can Still Do Today (March 31)
1. Make Your Final ISA Deposit
If you've got cash sitting in a regular savings account and haven't used your full £20,000 ISA allowance, you can still deposit today. Many banks allow online transfers to complete same-day if you do it before 3 PM (check your specific bank's cutoff).
The money needs to be transferred by today to count towards this year's allowance—it doesn't need to have settled into the ISA account yet. Most banks are clear about this.
If you've got £5,000, £10,000, or even £20,000 sitting around earning pittance in a regular savings account, this is literally the last chance to shield that interest from tax.
2. Set Up a Regular Saver (Right Now, For Next Year)
Here's a tactic people miss: you can open and set up a regular saver today, even if the first contribution doesn't go in until April. Some banks have specific windows, but many let you set up the standing order today, which counts the account as "active" for their purposes.
Regular savers lock in rates (often 5–7% depending on the bank) for the full tax year. If you've got a spare £200–£500 a month, this is genuinely one of the best returns you can get, and it's guaranteed. No switching required. No 0% card management needed.
Setting one up today means you're ready to go the second the new tax year starts.
3. Check Your Switching Eligibility One Last Time
If you've been sitting on the fence about switching, today is your last day to make it count towards this tax year's financial picture. Here's the reality:
- Most bank switch bonuses (£100–£150 currently) will credit within 7–30 days
- If you switch today, that bonus might drop into this tax year, though there's no guarantee
- More importantly, you'll start your cooling-off checker period today, which gives you flexibility over the next two weeks
Use our eligibility checker to see what you qualify for. It takes 60 seconds.
4. Lock In Your 0% Card Timing
If you've got credit card balances and haven't opened a 0% balance transfer card yet, opening one today puts you in control of when the 0% period starts. You've got to transfer the balance within the card's promotional window (usually 30–60 days), so opening today doesn't commit you to anything.
The math: a £3,000 balance on a 0% card for 18 months costs you nothing in interest. The same balance on a standard credit card costs you £450+ in interest per year. On March 31, that difference matters for tax year accounting.
5. Move Money to Your Personal Savings Allowance
If you're a basic rate taxpayer with less than £1,000 in taxable interest this year, any interest earned in a normal savings account is tax-free—up to £1,000. If you haven't hit that threshold, moving money into a high-interest savings account today lets you earn interest that doesn't get taxed.
Check your interest earned so far this tax year. If you're at £700, you've got £300 of tax-free interest room left. Pop £30,000 in a 4% savings account for two days and you'll earn roughly £6.50—all tax-free, because you haven't breached £1,000.
Tiny numbers, but the principle matters: the allowance disappears tomorrow.
What to Do If You've Missed Everything
If you're reading this on March 31 thinking "Greg, I've done none of this," here's the honest truth: you've missed some money. Tax year allowances don't roll over. That £20,000 ISA allowance you didn't use? It's gone.
But here's what matters: tomorrow, you start a brand new tax year with a clean slate. You don't get to be clever today, but you've got 12 months of opportunities starting April 1.
The best thing you can do right now is not panic—panic leads to bad financial decisions. Instead:
- Spend today reviewing what you missed, so you don't miss it again
- Set calendar reminders for key dates next year (April 5, July 1, October 1, January 1)
- Start planning for next year: If you want to max out your ISA, start setting aside money next month
- Open a regular saver tomorrow: Even if you missed this year's window, next year's regular saver can earn you 5–7% guaranteed
Getting Ready for Tax Year 2024-25
The best financial move you can make today is forward-looking. Here's what to do tonight:
Set up your banking system for next year:
- Decide how many current accounts you're willing to manage (many people go 3–5)
- Check which banks have upcoming offers and plan when you'll switch
- Research regular saver accounts and pick your top 3 options
- Plan your ISA strategy: will you use a Cash ISA, Stocks & Shares ISA, or a mix?
Get organized:
- Use our switching guide to understand the process
- Track your cooling-off periods properly (this is where most people go wrong)
- Set aside time each month to optimize your accounts
Start small if you're new:
- If you've never done bank switching, open one current account and get comfortable with it
- Do one regular saver to understand how it works
- Then scale up next year
How to Think About Next Year
One mistake people make is thinking about bank switching and stoozing as one-time moves. They're not. They're systems.
If you set up a banking system properly—switching accounts every 12 months, running 2–3 regular savers, using a 0% card strategically—you can genuinely earn £1,000–£2,000 a year from your money. That's not a bonus here or there. That's systematic, repeatable income.
The people earning real money from banking aren't geniuses. They're just organized. They understand the calendar. They plan ahead.
You've now got the entire tax year ahead of you. That's 365 days to set up properly, to move money into the right accounts, to hit deadlines without panic.
Common Questions
Can I still make an ISA deposit if my bank is closed tomorrow? Online ISA transfers usually process regardless of weekend/bank holidays. Check with your bank about their specific cutoff time. If there's any doubt, call them—ISA deadlines are serious business, and most banks will help you beat the deadline if you ring before 3 PM.
If I open a bank account today, does the switching bonus count towards this tax year? The bonus credit timeline varies by bank (usually 7–30 days), so there's a chance it lands in the next tax year. But you'll still get the bonus—it's just not guaranteed to count towards 2023-24's earnings. The bigger point: you're starting your next switch cycle today.
Is it too late to use a 0% card to earn interest this tax year? Not entirely. If you've got £5,000+ you're planning to put in a savings account anyway, using a 0% card means you can move that money to a high-interest account instead and earn the difference. It's worth doing if you can manage the repayment discipline.
Should I panic if I haven't maximized my allowances? No. Everyone misses things. The point is to do better next year. Take today as a learning day, set reminders, and build a system that works for you.
What's the best first move for the new tax year? Check our live offers page on April 1 to see what bonuses banks are launching. Often they drop on the first day of the tax year, and you want to catch them early. Open a current account, set up a regular saver, and you've got momentum going into the new year.
The tax year ending today marks a natural reset point. You can't change the past 12 months, but you can absolutely change the next 12. Use today to learn, and tomorrow to plan. The system works—you just need to work the system.