Important information - the value of investments and the income from them, can go down as well as up, so you may get back less than you invest.

Getting your financial ducks in a row is less about being organised for organised’s sake. And more about making sure you don’t pay more tax than you need to. Even though the deadline for Self-Assessment tax returns has just passed (31 January) there's still plenty of opportunity to make sure you're saving as tax-efficently as you can. Here’s a summary of the key dates for your diary for 2024.

2024 dates that could save you money

6 March - Spring Budget

Given that Rishi Sunak recently announced that the general election is likely to be in the second half of the year, this could well be the last one before a general election. If you want to get pre and post-budget insights from Fidelity about how it will affect you and your money, you can sign up here.

Late March - Moving money from an investment account to your ISA (Bed and ISA) - if you’ve not used all your annual ISA allowance and hold money in an Investment Account, it’s possible to move money from your Investment Account to your ISA. It’s worth noting you’ll be out of the market while the money is being moved and it counts as a taxable event for Capital Gains Tax (CGT) purposes. The Bed & ISA process takes up to six working days to complete at Fidelity - meaning your money could be out of the market for up to four days. The official last chance date is being released soon, but I’d make sure you don’t leave any margin for error and get your completed instructions in by 25 March. Better to be safe than sorry. Learn how to complete a Bed & ISA online.

5 April - end of 2023/2024 tax year - You have until midnight to use as much of your tax-efficient allowances as you can. A special shout out goes to dividend and capital gains tax - as they’re reducing again. The 2022/23 allowance for capital gains tax is currently £6,000 and it’s going down to £3,000 as of 6 April for 2023/24. And the dividend allowance is £1,000 for 2023/23 but halving to £500 from 6 April.

You can learn more about your tax allowances here.

6 April - new 2024/25 tax year - you can start making use of your tax allowances straight away. Remember, the longer you invest for the more time you’re giving your investments to grow. You can learn more about the power of starting early here.

31 July - if you're self-employed and pay tax through payment on account, you'll need to make your second payment by midnight.

5 October - you must register for Self-Assessment by this date if you haven't sent one before.

31 October - paper Self-Assessment tax returns must be returned by midnight.

30 December - submit your online return by this date if you want HMRC to automatically collect tax you owe from your wages and pension. Find out if you're eligible to pay this way.

Mistakes happen, so don’t panic…

We’re only human and tax returns aren’t always the easiest things to get right. You usually have 12 months from 31 January to correct any mistakes you make, so get in contact with the HMRC if you spot anything.

Important information - investors should note that the views expressed may no longer be current and may have already been acted upon. Tax treatment depends on individual circumstances and all tax rules may change in the future. Withdrawals from a pension product will not be possible until you reach age 55 (57 from 2028). This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice.

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