The new tax year brings a clean slate. Your allowances are reset. It is the most important month of the year for setting up your automated wealth-building systems.

Do not wait until next March to figure this out. Do these three things today:

The April Checklist

  1. Automate your ISA: Set up a monthly direct debit into your Stocks and Shares ISA. Even if it is £100 a month. Automate it so it leaves your account the day after payday.
  2. Review your pension contribution: Did you get a pay rise? Increase your pension contribution by a percentage point. You won't miss the cashflow, but the compounding effect over 20 years is massive.
  3. Check your tax code: Log into the HMRC app and make sure your tax code is correct. If you owe tax or are owed a refund, sort it now before it becomes an emergency.

Set the system up in April, and you won't have to think about it for the rest of the year.