The UK tax year end for 2024 is little more than a fortnight away, which means a whole host of personal finance changes are on the way.

Alongside the annual £20,000 ISA allowance refresh, this April will see five key ISA rule changes. It’s also worth keeping an eye on your tax code to make sure you’re paying what you should be.

Although 5 April is still a little way off, the tax year end deadlines for wealthy investors are coming thick and fast – particularly given that Easter is taking out two working days between now and then.
If you can stomach the high levels of risk, there are generous tax breaks (and large potential gains) to be had if you invest in Enterprise Investment Scheme (EIS) funds.

The scheme, which has been active since 1994, makes it easier for early-stage businesses to raise funding. In exchange for their money, investors can claim income tax relief on up to £1 million of their investment each financial year and do not have to pay capital gains tax. They are also eligible for loss relief if things go badly for the company they’ve invested in.

There are two main ways to invest in EIS. One method is to do a single-company investment. Investing via this route requires a lot of research into the company you’re considering buying shares in and should only really be undertaken by those who have knowledge of the potential positives and pitfalls of EIS. This route is unlikely to be feasible given how close to the tax year end we are.

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