As Reeves looks to balance the books here's how you can beat Spring Budget

SPRING is always a good time to take stock of your personal finances, but never more so than in 2025.

- Harvey Jones

We're moving into the busiest part of the year for our money, as Chancellor Rachel Reeves prepares next Wednesday’s Spring Statement, which will be swiftly followed by the end of the tax year on April 5.

It’s important to stay on your toes. Taxes are at a 70-year high, while state benefits come under attack as Reeves battles to balance the books.

The Spring Statement isn’t expected to be as brutal as last October’s Budget, but we could still face a nasty shock or two. So it is vital to make full use of your annual tax allowances before they expire.

Thousands of pounds are at stake in tax relief and other vital exemptions and allowances. They may have reduced or frozen in recent years, but that only makes it more important to maximise what's left.

No major tax increases are expected, but those Reeves has already announced will take their toll, warns Myron Jobson, senior personal finance analyst at Interactive Investor. “Now is the time to fight back. There’s plenty you can do.”

USE YOUR ISAS

Maximise ISA contributions before the tax year ends on April 5, Jobson said.

Every adult can pay up to £20,000 a year into an ISA, plus up to £9,000 in a Junior ISA for under-18s.

All capital gains, dividends and interest are tax-free for life, making this a hugely valuable benefit.