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  • Getting ready for tax year end – top tips from our Helpdesk

    From maximising your ISA allowance, to utilising pension contributions – the 5 April deadline is fast approaching. Here’s how you can prepare for our busiest time of year.

    Last Updated: 18 March 2024

    Harry Hoare, Helpdesk Team Leader

    The end of the tax year is an important time of year for savers and investors, who look to maximise tax allowances and utilise contribution limits. It’s also the busiest time of year for the HL Helpdesk.

    We want to make sure you’re prepared for the 5 April deadline. Here are three top tips, and answers to some of your most common queries.

    This isn't personal advice. Our skilled agents can answer your questions on investments, savings, ISAs and pensions. But they don’t offer personal investment advice. If you're not sure what's right for you, ask them about financial advice or book in a call with our advisory team.

    Unlike the security offered by cash, investments rise and fall in value, so you could get back less than you invest. Tax rules can change, and any benefits depend on your circumstances.

    Adding money to your account

    Our clients’ most common query is about adding money to accounts, as they look to make use of their ISA and pension allowances. It’s a quick and easy task online using a debit card. Once logged in, simply click the ‘Top up’ button and follow the steps.

    Author’s tip: It’s worth making your bank aware before attempting any large payments, which should help avoid the payment being rejected. Check the money in your bank is available, and your remaining contribution allowance for the current tax year.

    Withdrawing money from your account

    Before you can instruct a withdrawal, you’ll need to have set up and verified a nominated bank account. You can do this in the ‘Withdrawals, income, and loyalty bonus’ section of your account settings.

    Once active, select the account you’d like to withdraw from, then click the ‘Withdraw money’ tab and follow the steps. Be aware, any proceeds from trades must be settled before the money can be withdrawn.

    You’ll usually need to be at least 55 (rising to 57 from 2028) before you can access the money in your pension.

    Author’s tip: To withdraw from a SIPP or Lifetime ISA, please contact our Helpdesk for more information. We can explain the rules which apply to withdrawals from these accounts.

    Logging into your account

    If you’re not sure of your security details, you can reset them by clicking on ‘Log in’ and then selecting the ‘Forgotten login details?’ link after entering your username and date of birth.

    You can receive a reminder of your username by clicking on the ‘Forgotten your username?’ link.

    Author’s tip: If you’re confident your details are correct but having issues logging in, please try using a different browser and/or clearing your cookies and cache data.

    Transferring an account to HL

    You can instruct the transfer of an account from another provider online.

    We explain what’s involved, and what to check before getting started.

    More about transferring

    Author’s tip: Online is the fastest way to transfer, but you can also transfer by post or over the phone. You can download a copy of the relevant transfer form on our website, or our Helpdesk can send one to you.

    Moving cash or stock from a Fund and Share account into an ISA or SIPP

    Settled cash can be moved online by clicking on your Fund and Share account and selecting the ‘Cash’ tab. In the ‘Manage cash on your account’ box, there’s an option to ‘Transfer money’.

    HMRC rules mean you can’t directly move shares into an ISA or SIPP. But our Share Exchange service lets you sell the shares, move the cash to your ISA or SIPP and then buy the same shares back again, all with one online instruction.

    3 top tips from our Helpdesk:

    1. The earlier the better – make any payments or instructions as early as possible to make sure they can be processed before the tax year end deadline. You can check our more complex processing deadlines by phone or email.
    2. Have your details to hand - when calling us, be prepared with your security details and any other required information, such as card details. This helps us resolve your queries efficiently for you, and help more clients who need our support.
    3. Acting online - you can quickly do most things online once logged into your account. Our Help pages provide step-by-step guides on managing your account.

    We know the importance of getting things right, especially at this time of year. Saving and investing should be easy and accessible, so if you’d prefer to speak with someone over the phone, our highly-skilled Helpdesk will be happy to help.

    Meet the HL Helpdesk

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