The start of the New Tax Year provides a great opportunity to review your financial circumstances and plans for the year ahead, taking into consideration key factors that may impact your personal financial situation. This can include income tax, ISA allowances, Pension Allowances, Salary Sacrifice arrangements and Inheritance Tax Changes. Financial Planner Ryan Holmes, explains the key points to consider for getting your finances in order.

The full articles can be found online in The Money Supplement on The Scotsman website here. For more questions on your financial situation for the tax year ahead, please get in touch with a member of our team.

Our latest article from Financial Planner Ryan Holmes, features in the Spring Edition of The Business magazine in The Sunday Times.

Looking at market volatility, Ryan explains the advantages of long term financial planning and advice, during times of market fluctuation and geopolitics, The full article can be found online edition here.

If you would like to speak to a member of our team on your own financial plan, or any concerns current world events might be impacting your investments and plans, please get in touch with our team.

We are delighted to announce that our CEO Jen Paice has been shortlisted in the CEO category at this year’s British Business Awards, to be held in Edinburgh on 30 April 2026.

Shortlisted companies form the inaugural British Business Leaders List, a new designation recognising the organisations setting the benchmark for modern enterprise and shaping the UK’s economic future.

A record number of more than 400 companies entered the awards this year, with those selected for the shortlist independently evaluated across five core pillars: business performance, innovation, workforce and culture, customer impact, and contribution to society and the wider economy. This year’s shortlist features some of the most recognisable and influential names in British and global business, alongside a dynamic mix of high-growth scale-ups, family-owned firms, and innovative SMEs from every corner of the UK.

Those achieving the highest combined performance across these metrics have secured their place on the shortlist, and now go forward to the independent judging panel. The judging panel includes 18 key figures from British industry, chaired by the former CEO of Unilever Alan Jope CBE and Emma Crystal, CEO of Coutts Bank.

The awards are set to be bigger than ever with special guest, actor and humanitarian, George Clooney, alongside the return of keynote speaker Sir Bob Geldof and co-hosts Rob Brydon and Elaine C Smith.

The Awards Ceremony

To be held at Edinburgh International Conference Centre (EICC) on 30 April, tables at the awards are in high demand with up to 2000 business leaders set to attend. The awards will once again be raising funds for UK homelessness charity, Social Bite, with a target of helping to raise over £1 million.

Alan Jope CBE, Chair of the judging panel, said: “The calibre of companies on the shortlist is extraordinary, and our job as judges is simply to maintain the highest standards and ensure that truly outstanding businesses emerge as the winners. From global innovators like AstraZeneca and Moderna to much-loved brands such as Nando’s, Warburtons and Iceland, this year’s cohort represents companies that are truly shaping Britain’s economic future.”

For further information on the award, visit: www.britishbusinessawards.co.uk

At this time of year, it can be a good time to brush up and review the various ‘allowances’ that might apply to you. Here is a checklist of five key areas to review.

1. Get to know your allowances

The pension annual allowance. This is the total amount that can be paid into a pension plan before a tax charge could apply. It is currently £60,000. To make the most of the tax benefits a pension plan has to offer, some people like to use up as much of their allowance as they can in a tax year.

You can find out more about the pension annual allowance and when your allowance might be different on The Money Helper website. Other allowances that are worth looking into include: marriage allowance, capital gains tax allowance, dividends allowance and Individual Savings Account (ISA) allowance.

2. Check whether you can claim pension tax relief

You can get tax benefits when you pay into a pension plan. These can work in different ways for different people.

If you put money into a plan after you have been taxed, your pension provider claims back some or all of the tax you paid on that amount. They will add it to your plan as ‘tax relief’.

But they will only claim back tax at a rate of 20%. If you pay tax at a rate higher than that, you need to claim anything above 20% from the government yourself. You can usually do this through a self-assessment tax return or by contacting HMRC.

Not everyone needs to claim tax back. If you have a workplace pensions, relief is often automatic, before tax is taken. More details on pension tax relief can be found on the Government website here.

3. Keep your contact details up to date on your pension plans

Check that the details on your pension plans, like your home address, are correct. This helps your pension providers contact you with important information.

It’s also worth making sure your providers have a personal email address on record for you, not just your work one. That makes it easier for them to get in touch if you leave your job.

You can normally check and change your contact details online or through your provider’s app, or by contacting them.

Beneficiaries – check the details on your pension for beneficiaries are up to date, and consider checking your will, and any POA that is in place. Legal advice is recommended.

4. Check your payslips

Your tax code, which is made up of numbers and letters, determines how much income tax is taken from your pay. It is important to check that you are on the right code. You can find your tax code on your payslips, P60 and you can learn more about tax codes on GOV.UK. And you can use the tax code checker to discover what your tax code means. Check the other aspects of your payslip look right? If not, this might be something to ask your employer.

5. Find out whether you need to send a self-assessment tax return

Tax returns need to be submitted annually, online for each previous tax year, along with paying any tax you owe, by 31 January. You might need to complete a form for various reasons – for example, if you’re self-employed, renting out property, high income child benefit charge, Partnership or Company Director, Investment or Dividend income of over £10,000, or your total taxable income is over £150,000. You can check on this page on the Government website to establish if you need to complete a tax return.

The cost and value of financial advice, should be clearer and more available to everyone to understand. Many people avoid financial advice because they assume it's expensive, or only for the very wealthy.

However, research suggests that those who seek out financial advice, can be up to £43,000 better off than those who didn’t take financial advice.*

The real value of financial advice isn't just a number on a page. It's the confidence of knowing a qualified team is managing your pensions, savings and investments, adjusting your strategy as required, to help you to achieve your financial goals.

Working with a financial adviser for financial advice is worth considering if: 

• You’ve built up savings, pensions and investments and would value a professional opinion to ensure your savings are adequate for your retirement. A financial adviser or financial planner will help you work out your priorities and recommend products to meet your needs.  
• Your financial needs are complex, and specialist advice could help you understand your options. For example, Inheritance Tax planning, understanding tax allowances, run a business, or have significant pensions that require specialist advice.
• If you have financial dependents, children, or older relatives that you may be looking to support.
• You need help making a specific decision, such as selling a business, changing career or being offered a redundancy package.
• You don’t fully understand financial products, or you feel more comfortable with an expert providing guidance to support you in your financial decisions.
• You would like an independent opinion on your finances further to a change in circumstances following any life events such as a divorce, ill health or a bereavement.
• You’ve received a lump sum and are not sure what to do with it, such as an inheritance or redundancy payment. 

It's the peace of mind that comes from working with an expert team you can trust, who know your goals, your family, your situation, and your plans for the future.

At AC Wealth, we believe you should know exactly what you're paying before you commit to anything.

Here's how we work:

Initial advice is charged on a simple tiered structure, 2.5% for portfolios up to £150,000, 0.5% for portfolios over £150,000 with a cap of £12,000 for larger portfolios.

Ongoing Wealth Management is 0.75% per year and that includes annual meetings with your Financial Planner, cashflow modelling, portfolio reviews, and keeping you ahead of tax and regulatory changes.

Our team of financial planners are based across Scotland and every client relationship starts with a conversation, not a sales pitch.

Curious about what good advice could do for your financial future? Get in touch with one of our team today.

Sources:

* “Affluent but advised” Report from Royal London individuals accumulated £43,000 more in financial assets than similar unadvised peers.

FCA Financial Lives Survey (various years). Shows advised consumers tend to have higher levels of investible assets, greater pension engagement, and higher confidence in making financial decisions.

Establish how The Scottish Budget impacts you and your business

The recent Scottish Budget focused on measures to improve the health and well-being of the people of Scotland and boosting public services. While the Westminster Budget has increased the settlement for Scotland, the government faced a shortfall of around £1 billion for the coming year.

Some of the key highlights announced included:

• The tax thresholds for basic and intermediate tax rates will increase by 7.4% in 2026/27. Other thresholds remain frozen.
• Land and Buildings Transaction Taxes remain unchanged.
• Two higher council tax bands will be introduced from April 2028 on properties worth more than £1 million after some ‘targeted revaluation’.
• A tax on travel by private jet will come in from April 2027.
• Public sector efficiency reforms will be introduced to save £1.5 billion.
• Scottish Child Payment will increase in line with inflation, with an increase to £40 for children under a year old from 2027/28.
• Breakfast clubs will be offered in all primary and special schools by August 2027.
• The small business bonus scheme is extended for the next three years, and a 15% rate relief will apply to retail, hospitality and leisure businesses at the basic or intermediary property level (capped at £110,000 a business each year).
• Social care workers will receive a minimum of the real living wage of £13.45.

We have summarised these and the other main announcements and measures that may affect you in this document. Please get in touch if you would like to discuss any aspect of the Budget and its implications.