Want to learn how to refresh your resume to land your next opportunity?

The new year is a great chance to refresh, reflect and re-set your goals. Want to make the most of 2025? It’s time to “Marie Kondo” more than just your closet —let’s declutter and revitalise your resume.

Updating your resume is like giving your professional story a spring clean—it clears away the clutter and lets your achievements shine. That way, when an exciting opportunity knocks, you’re ready to put your best foot forward.

Why is it important to update your resume in 2025?

Keeping your resume up to date is as essential as keeping your playlist updated with the latest tunes! Just like adding new tracks, updating your resume allows you to showcase your latest achievements, skills, and experiences, letting potential employers get a full and current picture of your employability. 

By customising your resume for specific opportunities, you increase your chances of catching the hiring manager’s eye. An updated resume keeps you competitive in a dynamic job market that constantly seeks new skills to match industry advancements. 

If you’re looking to change careers, a resume refresh will serve you well —it allows you to reposition your skills and highlight relevant experiences. Plus, having an updated resume on hand means you’re ready to apply for any sudden opportunities that pop up. 

What are hiring managers looking for in a job application?

Hiring managers assess job applications based on specific criteria that will vary depending on specifics like the role, industry and work model. They consider relevant qualifications, skills, and professional experience that match the position. This includes educational background, certifications, and abilities necessary for success in the role. 

Tip: An easy way to make your application stand out is by creating a Smartmatch profile. It showcases all your employment history, certifications and qualifications at a glance –and you can take it from job to job. With a Candidate profile, you can easily apply for roles in seconds, with just a few clicks. Get started today.

Hiring managers seek various personality traits and attributes depending on the role, including an achievement-oriented mindset, strong communication skills, and problem-solving abilities. They value evidence of success, such as meeting targets and driving positive outcomes. And they appreciate clear expression, active listening, effective collaboration, adaptability, and a growth mindset.

Employers will also consider if your values and work style align with the company culture. This is where it’s important to make sure your personality shines through on your application. This can include mentioning your values, hobbies and interests in your application where appropriate. 

A step-by-step guide on how to refresh your resume

How to Refresh your Resume: Step 1

Review your current resume: Start by carefully examining your existing resume to identify areas that need improvement or updates. Pay close attention to outdated information that may no longer be relevant or necessary. Take note of sections that could benefit from additional detail or clarification. 

During the review process, consider the overall design and layout of your resume as well. Is it visually appealing and easy to read? Does it effectively highlight your key skills and experiences? If not, it may be time to update the design of your resume to ensure it stands out in a competitive job market.

It’s important to also keep in mind if your resume is most appropriate for your industry, especially if you’re changing industries. If you’re moving from hospitality to engineering, you might want to change up the look and feel of your resume and the information it should include.

Read more: 10 Tips To Make Your Job Application Stand Out

How to Refresh your Resume: Step 2

Update your contact information: Ensure that your contact information is accurate and up to date, including your phone number, email address, and professional social media profiles. You want to make sure they can get in touch with you for an interview after you wow them!

How to Refresh your Resume: Step 3

Revise your professional summary: A professional summary, also known as a career summary or profile, is a concise paragraph or bullet-point section at the beginning of a resume that provides an overview of your professional background, skills, experiences, and career goals. It serves as a snapshot of your qualifications and serves to capture the attention of hiring managers and recruiters. 

Writing one well, using specific keywords for the industry and position you’re applying for, will showcase your unique value proposition to employers. Use strong action verbs and quantifiable results to demonstrate your impact. Don’t forget to keep it short and sweet! 

How to Refresh your Resume: Step 4

Update your work experience: This is a big one. If you haven’t applied for a role in a while, it’s likely your experience isn’t up to date. Having all your most recent work experience listed clearly on your resume will provide hiring managers with a clear understanding of your professional journey, responsibilities, and achievements. 

Include your recent positions, job responsibilities, and achievements with measurable results. Use action verbs and be specific to highlight your skills and contributions. Going above and beyond and also providing specific examples will really set you apart from other applicants.

Tip: Keeping your resume and work history updated is easy with a candidate profile. It’s your entire work history, accreditations, certifications and more, all accessible within the Employment Hero Work app. You can take it from job to job and use it to apply for roles instantly. Learn more here.

How to Refresh your Resume: Step 5

Highlight relevant skills: Identify and emphasise the skills that are most relevant to the specific job you are applying for. Include both hard skills (technical abilities) and soft skills (communication, leadership, etc.) to present a well-rounded profile.

You can have a dedicated skills section in your resume, however, you can go beyond this and weave your skills throughout your resume. Integrate them into your professional summary, work experience bullet points, and even in your education or achievements section when relevant.

How to Refresh your Resume: Step 6

Mention recent achievements: Add any recent achievements, certifications, training programs, or projects that demonstrate your professional growth and development.

What is “recent”? Generally, recent achievements refer to those that have occurred within the past 2-5 years. This time frame ensures that the accomplishments you include are current and relevant to your professional growth.

How to Refresh your Resume: Step 7

Include relevant keywords: Tailor your resume to include relevant keywords and phrases from the job description. This can improve the chances of passing through applicant tracking systems (ATS) and catching the attention of hiring managers. 

Not only should you get keywords from the job description, you should also familiarise yourself with industry-specific terms and jargon commonly used in the field you’re applying for. Incorporating these terms demonstrates your understanding of the industry and positions you as a knowledgeable candidate.

How to Refresh your Resume: Step 8

Update education and certifications: Include any new degrees, certifications, or professional development courses you have completed since your last resume update. Be sure to mention the institution, degree/certification earned, and dates of completion.

How to Refresh your Resume: Step 9

Polish your formatting and design: Time to make it sparkle! Ensure that your resume is visually appealing and easy to read. Make sure you have a clean and professional format with consistent margins, spacing, and font styles. Divide your resume into clear sections with descriptive headings and use bullet points for readability. Incorporate white space to create a visually appealing layout and proofread diligently to eliminate errors. 

Bonus tip: Before sending your resume, save it as a PDF or a widely accepted file format. This ensures that the formatting and design remain intact across different devices and operating systems.

Read more: How to write your CV to land a remote job in 2023

How to Refresh your Resume: Step 10

Phone a friend: It’s always helpful to seek feedback from trusted colleagues or mentors when updating your resume. Reach out to them and ask for their perspective on your revised document. Their fresh eyes and insights can provide valuable suggestions and help you identify areas that may need improvement. 

Consider their feedback and make any necessary adjustments to further enhance your resume. Once you’ve incorporated their suggestions, review and finalise your resume with confidence, knowing that you’ve received input from trusted sources.

Our best tip for impressing a hiring manager 

In today’s highly competitive job market, it’s crucial to make your job application stand out among the sea of resumes that hiring managers and CV scanning technology review for each job listing. 

But how can you achieve this without spending excessive time crafting individual cover letters for each application? The key lies in making a genuine connection. 

People who truly stand out in job applications are those who can forge a real connection with the hiring manager or employer. It goes beyond simply showcasing your qualifications and skills on paper. Instead, it involves effectively conveying your unique personality, passion, and genuine interest in the position and company. 

Tip: Looking to form an instant connection with a future employer? Or perhaps you want to quickly see if this job is a fit for you? Employment Hero lets you message hiring managers and employers 1:1, directly within the Employment Hero Work app. Learn more here.

By demonstrating an authentic connection and understanding of the company’s values, goals, and challenges, you can make a lasting impression that sets you apart from other applicants. Rather than solely focusing on ticking off the required qualifications, take the time to research the company and tailor your application to highlight the ways in which you can contribute to their success. 

Showcasing your enthusiasm, drive, and alignment with the organisation will help you stand out to hiring managers and potential employers. By putting in the effort to establish a genuine connection through your application, you demonstrate your ability to go beyond the surface level and create a lasting impression. 

Apply easily and track your job applications with Employment Hero Jobs

Now you’ve refreshed your resume, it’s time to tackle your cover letter. Thankfully, SmartMatch harnesses the power of AI to write engaging cover letters that will get you noticed by hiring managers. All you need to do is write a few prompts and keywords, and SmartMatch does the rest. 

Creating a Candidate profile is another way to get noticed by hiring managers. It’s a single source of truth for all your employment information, and you can take it from job to job. And with the Employment Hero Work app, it’s easy to track and follow up on applications, talk to hiring managers 1:1 with real-time messaging, and stay updated on your application at each stage of the hiring journey. The best bit? Employment Hero Work is totally free to download and use. 

Now is the perfect time to declutter and revitalise your resume. By following this step-by-step guide, you can ensure your resume stands out and increases your chances of success in the job market. A refreshed resume is crucial for career changes, seizing unexpected opportunities, boosting confidence, and encouraging self-evaluation. Best of luck!

 

Disclaimer

The information in this article is current as at July 2023, and has been prepared by Employment Hero Pty Ltd (ABN 11 160 047 709) and its related bodies corporate (Employment Hero) . The views expressed in this article are general information provided in good faith to assist job seekers in the current market, and should not be relied on as professional advice. Some Information is based on data supplied by third parties and whilst such data is believed to be accurate, it has not been independently verified and no warranties are given that it is complete, accurate, up to date or fit for the purpose for which it is required. Employment Hero does not accept responsibility for any inaccuracy in such data and is not liable for any loss or damages arising directly or indirectly as a result of reliance on, use of or inability to use any information provided in this article. You should undertake your own research and seek professional advice before making any important career decisions or solely relying on the information in this article.

By Alan Gregory | October 4, 2021 | 8 minutes of reading

Although most taxpayers understand that their income is subject to income tax, many are not sure how to treat the sale of a capital asset, such as property (that is not your house) or stocks. Additionally, changes to capital gains tax (CGT) reporting over recent years have further complicated matters and left many taxpayers confused.

You probably came across this guide while searching for the answer to the question “what is capital gains tax?” » This is probably because it was mentioned to you because you have just sold a valuable asset or are considering selling it.

Well, you’ve come to the right place as this easy to digest article provides a comprehensive overview of capital gains tax for UK residents, explaining what capital gains tax is , what assets it applies to, how much CGT is and who should do it. pay it.

What is capital gains tax?

Simply put, when you sell an item you own and it has increased in value, you may be liable for tax on the amount of the increased value. This tax is Capital Gains Tax (CGT).

Whether or not you have to pay UK capital gains tax on the sale of your asset will be determined by several factors which are discussed in more detail below.

Who pays capital gains tax?

You may be wondering if CGT is separate from income tax. Individuals pay income tax on their income (e.g. salary, profits from self-employment, rental income). Capital gains tax, on the other hand, applies to capital gains resulting from the sale of taxable assets. Common examples of taxable assets include stocks, property and land. CGT can apply both when an asset is sold and when it is gifted.

As UK resident taxpayers are generally subject to capital gains tax on their worldwide gains, sales of taxable assets abroad (e.g. an overseas rental property) are also subject to UK CGT on disposal.

Note that businesses do not pay capital gains tax. Instead, they pay Corporation tax on their taxable earnings.

Exempt assets

Not all disposals result in a capital gains tax liability. Let’s look at some examples of what is exempt from CGT.

One of the most common exemptions is the transfer of principal residence (where the property has been a taxpayer’s principal residence throughout their ownership and has not been used to produce income – e.g. example by renting it out or being used as a place of business).

Another well-known situation where CGT does not arise is where an individual transfers assets to their spouse or civil partner. Such transfers are generally considered to be at zero gain/loss.

Some asset disposals are also exempt from CGT – HMRC guidance provides a high-level summary.

How much is the capital gains tax?

Capital gains tax applies to the net increase resulting from the disposal of an asset. The amount of CGT you will have to pay depends on several factors which we will discuss.

How to calculate CGT

In its simplest form, CGT is calculated by taking the amount paid to acquire the asset and deducting this “cost basis” from the net proceeds resulting from the sale.

In practice this calculation can be more complicated, for example where an asset is being donated, capital losses are being claimed or where only partial private residence relief is available on a property sale. For more complicated situations, it may be helpful to seek professional advice.

Once the net gain has been calculated, the taxpayer must consider the annual exemption amount (AEA) available. The AEA is a CGT allowance, meaning that no capital gains tax is payable on gains that fall within the AEA.

Now you know how to calculate capital gains tax. If you think you overpaid, check out our guide to claim back tax.

What is the capital gains tax allowance?

The AEA threshold is currently £12,300 for individuals in 2021 (at the time of writing, October 2021). The government has confirmed that this rate will be frozen until April 5, 2026.

What percentage does the CGT represent?

The capital gains tax rate applicable to a transfer depends on the property and tax status of the seller.

When the property is a residential building, the CGT rate is either 18% or 28%. The 18% rate applies to basic rate taxpayers, while the 28% rate applies to higher and additional rate taxpayers.

In the event of a sale of other taxable assets, the CGT rates are lowered to 10% or 20% respectively depending on the taxpayer’s rate band.

Taxpayers can also access specific capital gains tax reliefs when certain conditions are met. Eligible assets may, for example, be eligible for Business Asset Disposal Relief (formerly Entrepreneurs’ Relief) which applies a CGT rate of 10% on eligible earnings up to a lifetime allowance of £1 million.

When do you pay capital gains tax?

The legal deadline for paying capital gains tax is January 31 following the tax year of the transfer.

If the taxpayer pays a deposit, the capital gain is not considered part of the POA. The full CGT balance is due by January 31.

Penny sells its shares in December 2021, realizing a net capital gain after the annual exempt amount of £30,000. Penny is a higher rate taxpayer, meaning CGT of 20% (£6,000) is payable. This amount must be paid no later than January 31, 2023.

The exception to this rule is the sale of residential property in the UK. In such cases, the disposal must generally be reported to HMRC and the associated CGT paid within 30 days of the sale being completed.

Declaration of transfers

If a taxpayer makes a taxable disposal, subject to limited exceptions, that disposal must be reported to HMRC.

This is usually done by filing a self-assessment tax return and completing the additional capital gains tax pages.

An individual sells an investment property abroad in January 2022 and realizes a net capital gain after all reliefs and allowances of £100,000. This disposal must be reported in their 2021-22 self-assessment tax return. The filing deadline is October 31, 2022 if you file a paper return, or January 31, 2023 if you file online.

If this is an individual’s first self-assessment return, the deadline to register for self-assessment is October 5 following the end of the relevant tax year.

Exceptions to transfers

However, there are certain exceptions. For example, a taxable gain below the AEA does not need to be declared.

If a taxpayer is not in self-assessment, or is in self-assessment and wishes to pay the CGT due on a disposal early, the Real Time Capital Gains Tax service can be used to declare capital gain on a disposal other than the United Kingdom. residential property.

If a taxpayer uses the Real-Time Service and (apart from the assignment) does not need to file a self-assessment tax return, then by declaring the gain via the Real-Time Service, no tax return should not be produced. Taxpayers who are self-assessment must still report the disposal on their tax return, even if they use the real-time service.

Declaration of transfers of property

There are additional reporting requirements to consider when disposing of a residential property in the UK.

For UK tax residents, the disposal of UK residential property (e.g. rental property) from 6 April 2020 must be reported to HMRC via Capital Gains Tax in the UK Property Account. The deadline for declaring the transfer and paying the CGT due is 30 days from the completion of the sale.

There are some exceptions for UK residents. Where a disposal of a UK residential property is exempt from CGT (e.g. the sale of the main residence) or where the disposal does not trigger any CGT liability through the AEA or use of capital losses , the disposal does not need to be declared via CGT on the UK property account.

However, this is not an optional declaration form; where a taxpayer meets the criteria, the disposal must be reported via CGT to a UK property account on time.

Where a taxpayer is not in self-assessment and (apart from disposal) does not need to file a self-assessment tax return, no tax return is necessary if the gain is declared via CGT to a UK property account. However, self-assessment taxpayers must still declare the disposal on their tax return, in addition to reporting the disposal via CGT on the UK property account.

10 key points to remember for the CGT

1. CGT can apply both when an asset is sold or given away.
2. The AEA (Annual Exempt Amount) is currently £12,300 for individuals in 2021.
3. One of the most common CGT exemptions is the transfer of the main residence.
4. Capital gains tax applies to the net increase resulting from the disposal of an asset.
5. Where the property is residential property, the rate of CGT is either 18% (for basic rate taxpayers) or 28% (for higher/additional rate taxpayers).
6. When other taxable assets are sold, the CGT rates are much lower, at 10% or 20% respectively.
7. The legal deadline for paying capital gains tax is January 31 following the tax year of the transfer.
8. Reporting disposals is usually done by filing a self-assessment tax return and completing the additional capital gains tax pages.
9. A taxable gain below the AEA does not need to be declared.
10. There are additional reporting requirements to consider when disposing of a residential property in the UK.

At IRIS, we understand how confusing tax can be, even for the most experienced people. Our area of ​​expertise is tax software which simplifies tax declaration for individuals and professionals. For help with CGT, look no further than our latest cloud solution, IRIS Elements.