Act Now or Regret Later: Harnessing Your Financial Opportunities Before the 2023/24 Tax Deadline

This blog post is your annual reminder to:

-Use your £20k ISA allowance for 2023/24;

-Top-up your pensions;

-Take the capital gains in your General Investment Accounts;

-Make those tax-incentivised investments you were planning.

Actually, you shouldn’t do any of these if they don’t match your financial plan. If they do, you could probably have done them earlier!

So why didn’t you do them earlier?

Well, we know that a lack of confidence in knowing how much you will earn and how much you will spend is a strong incentive to delay the decisions. At our annual advice review meeting, maybe you don’t know whether you will get your annual bonus this year or how much your company’s profits will be. Maybe you don’t know how much that loft conversion or the re-landscaping will cost.

Or, maybe you think the markets look a bit scary. Markets always look scary and it does not matter whether you invest in March or April – the thought of your investment immediately going down in value by 10% or 20% is enough to make you think twice.

With a strong and regularly monitored financial plan, you can gain the confidence to use those tax allowances as soon as they are available to you. No more end of tax year stress.

We are with you all of the way – creating, monitoring and implementing the plan – just let us know how you are feeling about your tax position. We are asking though that you make any requests that need to be implemented before the end of the tax year before 5^th March 2024.