Every tax year end, the same patterns crop up. The pressure ramps up, everyone’s working flat out – and a handful of repeat snags end up costing advisers and their clients time, money and peace of mind.
So this time, we’ve gone straight to the people who see it all first hand: our Operations and Client Services teams. They’re the ones processing your requests, fixing problems and spotting the hidden pitfalls that lead to aborted trades, delays and complaints.
Their message is simple: stop making the same mistakes as everyone else. A few small changes now can make a big difference to your Tax Year End.
1. Bed & ISA: avoid last minute aborts
Every year we see a spike in abort requests around our Bed & ISA bulk process – often when firms spot too late certain clients are included, or who decide after the event that they’d rather do something different.
By that point, it can be too late to unwind cleanly. That increases the risk of poor client outcomes and difficult conversations.
Our Ops team’s suggestions:
· Make sure you know which clients are and aren’t in scope for the Bed & ISA bulk process before it kicks off.
· Talk to clients you’re unsure about ahead of time, so you aren’t trying to reverse trades under pressure.
· If you’re planning to opt certain clients out, do it early – not on the day.
If in doubt, get in touch with us well before the bulk run so we can talk through the options with you.
2. Withdrawals and cut‑off times: plan withdrawals with a buffer
We also see a rush of abort requests for withdrawals keyed too late for the current tax year, particularly on SIPPs. That increases the chance of a withdrawal falling into the “wrong” tax year for the client.
To avoid that:
· Treat our published cut‑off times as hard deadlines, not guidelines.
· Build your own internal cut‑offs that sit slightly earlier, to give yourself a buffer.
· Where a withdrawal in this tax year is critical, plan it days ahead, not hours.
The earlier you act, the more options we all have if something unexpected crops up.
3. Applications and new portfolios: don’t over‑engineer it
Application volumes always rise towards Tax Year End. Our teams repeatedly see full new ISA applications where they aren’t really needed.
In many cases, the client already has an ISA with us, and the adviser just wants to set up a new portfolio. In that scenario, you can often create the new portfolio using a 0% split form at any time, without asking the client to sign a brand new application.
That saves:
· Time for you and your client.
· Work for our processing teams.
· The risk of delays if paperwork comes back incomplete.
If you’re not sure whether you need a full application or a simpler route, check the guidance on our site or contact us before you start – it’s much quicker than re‑doing it all.
4. Be careful with bulk requests
We know bulk instructions can feel efficient from a firm’s point of view – one email, lots of cases. But for Operations, bulks can add unexpected steps.
Our teams often need to break down bulk requests into individual cases before they can be processed. That adds an extra step and can slow things down overall, especially in peak periods.
Where possible:
· Avoid large, complex bulk requests at Tax Year End.
· Use standard processes and forms for individual cases – they’re designed to flow smoothly through our systems.
· If you think a bulk approach is genuinely the best option, talk to us early so we can agree the cleanest way to handle it.
A little bit more structure up front can mean your work moves through the queue far faster.
5. Remember what absolutely must be done by 5th April
Our teams often see extra pressure when everything feels like it must be completed by tax year end – even when that’s not the case.
One simple example: new business applications. In many situations, the critical point is that the money arrives by the deadline, not that every last bit of paperwork is completed and keyed by that date.
That means:
· Focus first on getting funds where they need to be, in time.
· Tidy up non-critical administration once the Tax Year End rush has passed.
· If you’re unsure what must be done by 5th April vs what can follow, please ask us – we’d rather clarify than see you under unnecessary pressure.
Being clear on the “must dos” versus the “nice to haves” can take a lot of heat out of the week before tax year end.
Let our teams help you have an easier Tax Year End
The theme from Ops and CS is consistent: prevention beats cure. The more visibility and clarity you have before Tax Year End, the less time we’ll all spend firefighting afterwards.
Over the coming weeks, we’ll keep sharing more practical pointers from the teams who process your requests every day – so you can:
· Avoid the most common trip ups.
· Save time for you and your clients.
· Deliver smoother, more predictable outcomes.
If there’s a particular process you’d like tips on – Bed & ISA, withdrawals, transfers or anything else – let us know and we’ll bring our specialists into the conversation.
Need help?
Our Client Services team is here to help! So, if you have questions, feel free to live chat with us or give us a call on 0117 204 7678.
Let's work together to meet the deadline smoothly!
This article is for financial professionals only. Any information contained within is of a general nature and should not be construed as a form of personal recommendation or financial advice. Nor is the information to be considered an offer or solicitation to deal in any financial instrument or to engage in any investment service or activity. Parmenion accepts no duty of care or liability for loss arising from any person acting, or refraining from acting, as a result of any information contained within this article. All investment carries risk. The value of investments, and the income from them, can go down as well as up and investors may get back less than they put in. Past performance is not a reliable indicator of future returns.
