Early‑Start Tax Year Checklist for High‑Net‑Worth Investors

Tax Deadline Countdown: Less Than Three Weeks to Go!

It’s almost the end of the 2023/24 tax year and most of that sweet investment allowance is slipping through your fingers.

When the Clock Ticks

While the big picture gets bright on 31‑March, remember that venture‑capital perks—like EIS, SEIS, and VCTs—have their own earlier time caps. Don’t let those deadlines drag you into a tax‑mystery.

Listen Up, High‑Net‑Worth Investors

According to Nicholas Hyett, Investment Manager at Wealth Club:

Early bird alert: If you’re in the “sophisticated” club, your tax‑year end starts sooner than most people think.
No sweet spot: Even with a few budget tweaks, tax rates are still the highest in decades—especially for the wealthier.
Venture VC’s best buy: These schemes give generous relief for backing fresh UK startups, easing some of that pressure.
Don’t leave it till the last minute: Unlike your annual ISA allotment, you can’t afford to wait close to the deadline.
Holiday crunch: Good Friday and Easter Monday are practically hugging the tax‑year end—time is tighter than ever.
Hot deals close early: Many tax‑efficient funds wrap up before the end of March, and popular VCT offers often seal even earlier.

Bottom Line

So, if you’re keen on squeezing in that tax relief, act now. The clock is ticking and the rules are strict—don’t let a last‑minute rush give your finances a surprise plot twist!

Needs to be actioned now

Heads Up: Your EIS Funds Are Almost Gone!

Hey, EIS‑savvy investors! The 2023/24 tax year is squeezing out its last available schemes—most have already wired themselves shut. But don’t panic just yet; a few stubborn ones are still standing by the 28 March deadline.

Open Doors (As of Today)

Fuel Ventures Follow‑on EIS Fund – closes on 28 March 2024
Haatch EIS Fund – also wraps up on 28 March 2024

These are the only two camps that haven’t decided to quit the party. If you’re looking for an EIS‑eligible, single‑company venture, lock in before the curtain falls. After 28 March, you can still chase those opportunities—but that will be longer‑term and on a “first‑come, first‑serve” basis.

Quick Takeaway

All 2023/24 schemes are mostly closed. Keep an eye on the two remaining ones and act fast. If you miss the boat, there are still chances to invest in qualifying businesses later, just be prepared to wait a bit.

A week before the end of tax year

Stay on Top of Your Knowledge‑Intensive Fund Deadlines!

Parkwalk Knowledge Intensive EIS Fund III – Deadline: 28 March (Get in early before the coffee runs out!)
Par Knowledge Intensive EIS Fund II – Deadline: 4 April 17:00 (Finish just before the 5‑pm alarm!)
Octopus Ventures Knowledge Intensive Fund – Deadline: 5 April noon (Because nothing says “horizon” like a noon clock!)
Calculus Knowledge Intensive EIS Fund II – Deadline: 5 April 17:00 (Same time as Par—perfect chance to pop the calculator out!)

Beat the calendar like a pro and avoid those last‑minute scrambles—unless you’re into the thrill of chasing deadlines, then, well… enjoy the chase!

From three weeks before end of tax year

VCT Deadline Countdown: Don’t Miss Out!

Every VCT (Venture Capital Trust) has its own set of dates you’ll need to keep on your radar. Some are for snagging discounts or dividend potentials, while others have nothing to do with early offers. Below is a quick‑look list of the most important deadlines coming up.

Upcoming Deadline Highlights

20th March – Albion VCTs
22nd March – Blackfinch Spring VCT, Octopus Apollo VCT, Octopus Titan VCT, Hargreave Hale AIM VCT, Calculus VCT
25th March at 9 am – Baronsmead VCTs
2nd April at 5 pm – Octopus Future Generations VCT
3rd April – Foresight Technology VCT, Praetura Growth VCT
4th April at noon – Seneca Growth Capital VCT
4th April at 3 pm – Guinness VCT, ProVen VCTs
4th April at 5:30 pm – Fuel Ventures VCT
5th April at 9 am – Maven VCTs
5th April at 10 am – Molten Ventures VCT
5th April at 11 am – Puma Alpha VCT, Puma VCT 13
5th April at noon – Triple Point Venture VCT

What to Do Next?

Mark these dates on your calendar. If you miss a deadline, you might lose out on tax advantages, discounts, or dividend opportunities. Don’t let the tax year catch you off guard – stay ahead and keep your portfolio thriving!

In the last week

Maximising Your Tax‑Free Savings (and avoiding the April Chill‑out)

Saving for the future doesn’t have to feel like a tax‑free thank‑you note from the government. In fact, you can tuck away £20,000 into a regular ISA or £9,000 in a Junior ISA this year, and watch all the dividends, interest, and capital gains grow without being touched by the taxman.

But here’s the kicker: every wealth‑management provider is a different beast when it comes to payment deadlines. For Wealth Club, all contributions must squeak through the system by 5:00 pm on 3rd April to hit the tax‑free bucket for the current year. If you’re using another platform, check the cut‑off on the back of your ISA contract—they can vary.

What About Bigger Pensions? SIPPs to the Rescue

When it comes to retirement accounts, you can push up to £60,000 into your Self‑Invested Personal Pension (SIPP) each tax year. The catch? You’re limited to what you actually earned—no magic money bundles from the floor of the office.

Wealth Club again has you covered, giving a 5 pm deadline on 3rd April for cleared payments. Some other providers are a bit more generous, accepting debit‑card transfers until roughly 5:30 pm on 5th April. Still, many banks call in the hands of their transferee systems early, so don’t forget to double‑check those earlier cut‑offs if you’re doing a bank transfer.

Quick Checklist Before You Hit Send

Is your ISA provider’s cut‑off still 5 pm on 3rd April? Check the fine print.
Do you have enough real earnings to justify a £60,000 SIPP top‑up? Remember the “earned only” rule.
Are you using a bank transfer or a debit card? Bank times can be unforgiving.
Double‑check the deadline if your provider is not Wealth Club – some end on 5th April.

Set your contributions in motion, keep an eye on those deadlines, and let the tax‑free magic roll in. Happy saving!

24 hours to go

Capital Gains Tax Allowance Is Halving – What’s Your Next Move?

Heads up: Starting April 6th, the tax‑friendly green leaf for capital gains will shrink from £6,000 to £3,000. That means you’ll have less room to hide profits from Uncle Tax.

Feeling a bit nervous? You’re not alone. Investors with big windfalls might want to think about trimming their portfolios while the higher allowance is still in play.

Why It Matters

Higher allowance lets you keep more of your gains tax‑free.
Dropping the limit could push sizable gains into the 10‑20% tax brackets.
Strategic selling now could avoid the surprise tax bite later.

Quick Checklist for Savvy Sellers

Identify assets with gains above £3,000.
Calculate the projected tax liability if you hold versus selling.
Sell a portion of those shares, then re‑invest responsibly.
Keep records – paperwork is your best friend on tax day.

Bottom line: Don’t let the £3,000 deadline catch you off guard. Freshen your portfolio, protect your cash, and keep some tax‑freedom alive while the allowance is still generous.