Do your friends know about Tax Year End? Let’s talk about it!

We share so many things with our friends across different areas of our lives, but bringing up money can still feel awkward - even with people closest to us. 

Research conducted by the Money and Pensions Service in September last year revealed that women are less likely to feel comfortable talking about money with their friends (39%) when compared with men (50%). 

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When we don’t talk about money, we’re more likely to miss opportunities to bolster our financial knowledge and confidence. Sharing experiences and questions helps build awareness and inspire others. Plus, if we are struggling, keeping it to ourselves further embeds feelings of hopelessness, or shame. Sharing with people we trust helps us realise that perhaps other people are going through similar challenges and that there is help available.

Encouragingly, though – interactive investor research shows that almost a third (32%) of people say a friend encouraged them to start investing, proving that everyday conversations can be incredibly powerful when it comes to building confidence and taking action. 

The need for consumer clarity

The run-up to “Tax Year End” (i.e. the run-up to 5 April) is a pivotal time for our personal finances. But many people are in the dark about its significance. In fact, new research* from interactive investor shows that nearly a quarter (24%) of UK women don’t know what Tax Year End refers to, and fewer feel confident talking about it openly with friends.

The lack of awareness around the end of the tax year, and its significance, is not a huge surprise – the financial landscape is vast, ever-changing, and often filled with jargon. 

The good news, however, is that there are ways that investors can feel more in control at this time of year and keep more of their money. In fact, this is only ever going to get more important, with “fiscal drag” continuing to bite (more on this, later). 

Our same research shows, however, that the end of the tax year has negative associations, whether that’s last-minute panic, a feeling of overwhelm, or the myth that it is “only relevant if you’re wealthy.”

So, let’s talk about it!

Tax Year End - 5 April - is the annual deadline for using those all-important tax allowances, such as ISAs, before they reset for the new tax year. In short: if you can, now is the time to make the most of them. 

The individual tax burden is affecting more of us now - not just the highest earners. That’s why it’s so important to understand how to shield your money when you can. The stealthy impact of a phenomenon known as “fiscal drag” is literallydragging more of us into higher tax bracket, due to the combination of frozen tax thresholds (which are now frozen for even longer) and wage growth.

If you’re expecting a bonus, remember that it’s taxed as regular income too and could also push you into a higher band. Being aware of this in advance can help you avoid surprises and make smarter decisions about where to put your money.

After the end of the tax year, these all-important tax-efficient allowances reset. For the current tax year, that means you can shelter up to £20,000 in an ISA wrapper. Any growth, interest, or dividends you earn in that ISA are sheltered from tax, so more of your money stays working for you.

This is use it or lose it – any unused portion can’t be carried forward.

Why talking about money with friends helps

As well as building confidence and clarity, open conversations about money can also often trigger those “penny-drop moments” - from realising you don’t need a large lump sum to start, to finally understanding how an ISA works, or hearing someone else admit they’re figuring it out, too.

These conversations don’t need to be formal or awkward. They can happen on a walk, over coffee, or via a trusty voice note. The aim isn’t to compare or compete - it’s to normalise learning together.

Ways to kickstart the conversation 

Often, it’s as simple as admitting you’ve just learned something yourself; this helps inform and inspire others. Investing for our financial futures isn’t just about markets – it’s about real-life moments. Whether it is budgeting for a dream trip, juggling a side hustle, or deciding what to do with spare cash, talking with friends can help the topic feel more practical, and chances are, you won’t be the only one with questions.

Why not check out the ii Community  appwhere youcan create groups with friends and fellow investors, sharing insights, experiences, and thoughts on a wide range of investment topics. We’d love to hear from you. 

What’s worth talking about before 5April

A few simple truths can make Tax Year End feel far less daunting. You don’t need to invest everything in one go - many people add cash to an ISA throughout the year before the deadline and take their time deciding how to use it. 

Small amounts still matter, too. Regular contributions, even small or modest ones each month, can build momentum over time, thanks to the magic of compounding. And there’s no single “right” way to do it - what works for one person won’t work for another.

These aren’t secrets, but they can feel like them if no one ever says them out loud.

Why not take some inspiration from the many women on interactive investor who are building well-balanced portfolios for the long term? You can find this inour ii Index.

A final thought

Tax Year End doesn’t have to be a source of stress or shame. It can be a gentle annual nudge - a moment to check in, ask questions, and make decisions that support your future self.

And sometimes, the most powerful financial tool isn’t a product or a platform - it’s a conversation.

So next time you’re with friends, be the one who brings it up. You might be surprised how many people are relieved you did.

*The research was conducted by Censuswide, among a nationally representative sample of 2,001 UK consumers (Aged 18+). The data was collected between 20.01.2026 - 22.01.2026. Censuswide abides by and employs members of the Market Research Society and follows the MRS code of conduct and ESOMAR principles. Censuswide is also a member of the British Polling Council.