Five things to do before the end of the tax year, according to a money expert

As we approach the start of a new tax year on April 5, millions of Brits will face a series of financial and money changes.

Finance expert Brian Byrnes, head of personal finance at digital wealth manager Moneybox, has explained that the end of the current tax year is something all people should be keeping an eye on. He stresses that it provides the perfect opportunity for you make you money work "as hard as it can for you".

In April, there will be a series of changes for DWP benefits, wages, energy bills, broadband, taxes and more. While there are a lot of changes which can be hard to keep track of, Mr Byrnes highlights the importance of getting all your finances sorted in time, the Mirror reports.

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He said: "As we head towards the end of the 2022/23 tax year, now is the time to check you’re taking full advantage of the tax wrappers available, to ensure your money is working as hard as it can for you.

“We can all be guilty of leaving things until the last minute, and committing to sit down and spend some time reviewing and planning our finances can be a struggle. Tax allowances do not roll over into the next tax year, so it’s a case of “use it or lose it”.

“These five top tips will help you understand how tax year end might affect your finances, and what simple steps you can take that might save you money and make you money.”

Firstly, Mr Byrnes advises making the most of your personal savings allowance which will vary depending on which tax band you fall into. Those with a basic rate tax can earn up to £1,000 in interest on savings without needing to pay any tax on it.

Meanwhile, those in a higher tax band have a £500 limit. Because of this,