MoneySavingExpert's Money Tips Email

Big Ben wasn't chiming, fireworks weren't fizzing, but nevertheless last Thursday (6 April) marked a New (tax) Year. The start of the new tax year is when ISA allowances renew, your new tax code kicks in and more. So we've eight things for you to check to ensure you're financially fit for the New Year...

EMPLOYEE? CHECK your take-home pay & tax code. Most income tax thresholds were frozen, so if you've had a recent pay rise, you'll likely pay more in income tax. For example, some could be drawn into a higher tax bracket, or non-taxpayers might start paying basic-rate tax on part of their income. Plus higher earners in Scotland are paying an extra 1p per £1 earned. We've updated our Income Tax and National Insurance Calculator for the new tax year, so check now to see your 2023/24 take-home pay.

Equally important is our Free Tax Code Calculator - use it to check if your 2023/24 tax code is correct. Your tax code is a series of letters and numbers (for example, 1257L) which tells your employer or pension provider what tax to deduct. However, millions of codes are wrong each year, so check yours.
FIRST-TIME BUYER (OR WANT TO BE ONE DAY) AGED 18 TO 39? Get a FREE £1,000. A Lifetime ISA gives first-time buyers a 25% bonus on what they save. You've a new £4,000 allowance for the 2023/24 tax year, so open a LISA and max it out and the state adds £1,000. Our Top Lifetime ISAs guide has full info.

SAVER? You've a new cash ISA allowance... but not everyone needs the tax benefits of an ISA. A cash ISA is just a savings account where the interest is always tax-free. You've now got a refreshed £20,000 allowance for the 2023/24 tax year.

Yet not everyone needs a cash ISA since the introduction of the personal savings allowance (PSA). The PSA means 20% basic-rate taxpayers can earn £1,000 interest a year from all savings before paying tax on interest, and higher 40% taxpayers can earn £500.

Until recently, few could save enough to get close to that, but at current top rates, £28,000 in an easy-access account or £22,000 in a two-year fix is enough to see even a basic-rate taxpayer exceed their allowance.

Today's top rates include (links go through our guides, as top rates often change)...

	Top savings	Top cash ISAs
Easy access (AER variable)	- Chip 3.55% (min £1) - Tandem 3.5% (no min)	- Yorkshire BS 3.35% (min £1, one withdrawal/yr) - Cynergy Bank 3.28% (min £1)
1-year fixed rate	- SmartSave 4.52% (min £10,000). No access allowed within the term	- UBL UK 4.2% (min £2,000). Withdrawals allowed, but there's a 90-day interest penalty
2-year fixed rate	- Charter Savings Bank 4.57% (min £5,000). No access allowed within the term	- UBL UK 4.3% (min £2,000). Withdrawals allowed, but there's a 180-day interest penalty

As the table shows, normal savings outpay cash ISAs and it's usually best to simply plump for the highest rate. Yet cash ISAs will likely win, even at lower rates, if:

- You already pay tax on savings interest.
- You're near the limit and likely to pay tax on savings interest soon.
- You want to lock cash away but think there's a chance you'll need access (fixed cash ISAs let you withdraw money, for a penalty).

INVESTOR? You've a new stocks & shares ISA allowance. The same £20,000 ISA allowance for this tax year applies across cash AND stocks & shares, meaning you can save in one, both or neither (or use £4,000 of it for a Lifetime ISA). See Stocks & shares ISAs for help to get started with investing.
MARRIED / CIVIL PARTNERED but not claiming marriage tax allowance yet? It's worth £252 this tax year. If one of you is a non-taxpayer and the other a basic 20% taxpayer, you can transfer tax-free allowances between you, so you pay less tax as a couple. It's worth up to £252 in 2023/24, but backdate it the full four years allowed and it can be worth a further £1,000. And once you sign up, you get it every year. Around 2.1 million eligible couples miss out - check you're not one of them in Marriage tax allowance.
SELF-EMPLOYED/FREELANCE? Put a third of what you earn aside to pay tax. It's crucial to get tax right at the start of the year. Martin's rule of thumb is for every £100 you're paid, put about £30 aside in a separate account you never touch for tax and national insurance (hopefully this is too high, in which case you'll have saved a touch). If you don't have money set aside to pay tax, it can be a nightmare when the bill comes in. Martin's warning to freelancers and the self-employed everywhere blog was written about a decade ago, but it's still just as relevant today.
LOW INCOME? Check if you now qualify for benefits. Most benefits (including universal credit) went up by about 10% this April. As they've gone up by more than most people's wages, some low-income households will now likely qualify for much-needed help for the first time, even if they didn't last year. Check now if YOU could with our 10-minute benefit checker.

PS: If you do qualify for low-income benefits now, you'll also get the second and third 2023/24 cost of living payments, worth £600ish. The next instalment's due to be paid in autumn.
AGED 45 TO 70 AND MISSING NATIONAL INSURANCE YEARS? Boost your state pension by turning £800 into £5,500+ (free for some). A special deadline for people to backfill gaps from 2006 to 2016 was due to end with the last tax year on 5 April. But so many struggled to get through to jammed Government phone lines that it's been extended till 31 July. Yet don't leave it till then, as there'll likely be the same problem. So... if you're 45 to 70, you should be checking ASAP if you need to do this. It's not quick, but it can be immensely lucrative.

To get the full state pension, you'll need 35ish (only ish, it can be more for some) complete national insurance (NI) years. To top up gaps, first check if you're due them free. If not, you can buy back years.

Easy starters: Watch Martin's TV clip | Listen to his podcast.
Full step-by-step: Boost state pension with NI years? guide.
Struggling to get through to Government helplines? Martin's quick tips.

DON'T believe the fake 'Martin Lewis' or 'MSE' ads
Lots of scam ads litter social media and even newspaper websites - some of these lie that we or Martin promote Bitcoin, binary trading etc. See Fake ads warning.

April's hideous 14% broadband price hikes have kicked in

Yet four million on a low income are missing out on special cheap broadband - lock in long-term cheap fibre £12/mth

Now see ALL the cheapest deals with our enhanced comparison tool

We've been warning big broadband price rises were coming, and they've now hit bills, with hikes of up to 14% (see firm-by-firm rises). For most who are out of contract, we always say the way to bag cheap broadband is through short-lived promotional deals - we've got the top picks below. Yet for those on a range of benefits, there are more than 10 'social tariffs', which give long-term consistently cheap prices that could save more than £100s/yr on average. Yet you won't see them on broadband comparisons... until now!

New. Compare social tariffs and standard tariffs side-by-side in our enhanced tool. In the main, social broadband deals are for those on universal credit, though most also allow those receiving pension credit. And a decent number also include those on jobseeker's allowance, employment and support allowance, disability living allowance and personal independence payments.

To see the deals in our comparison tool, check the 'Show social tariffs' box and enter your postcode, and we'll now show you those with near-national coverage (plus each provider's eligibility criteria) alongside all standard deals available to you, so you can compare. You can also see our full social tariffs list which includes smaller firms too.

Top broadband social tariffs
Vodafone - 38Mb fibre & line £12/mth	Cheapest fibre broadband. The Vodafone 38Mb social tariff is a straight £12/mth. Vodafone will carry out a credit check when you apply, then reassess if you're still eligible every 12 months.
BT - 67Mb fibre & line £20/mth	Cheapest fast fibre. This BT 67Mb social tariff is £20/mth with a £9.99 upfront fee. BT will carry out a credit check when you apply, then reassess if you're still eligible every 12 months.
Not eligible for a social tariff? Top switchers' broadband deals See full options in our broadband tool
Shell Energy - 38Mb fibre & line '£19.53/mth' - 67Mb fibre & line '£19.58/mth' 18-month contract	Cheapest fibre broadband. Apply through this Shell Energy 38Mb link (through Broadband Genie) and you pay £5.57 upfront then £21.99/mth. But you can CLAIM a £50 Amazon voucher. Factor that in and it's equivalent to £19.53/mth over the 18-month contract (before calls). You can also get fast fibre for a little more a month. Through this Shell Energy 67Mb link (again through Broadband Genie) it's £5.57 upfront then £23.99/mth. But this time you can CLAIM an £85 Amazon, Just Eat or Love2Shop voucher. Factor that in and it's equivalent to £19.58/mth over the 18-month contract (before calls). Shell Energy was rated 'poor' in our last service poll, so there's a trade-off here between service and price.
Ends Sun. Vodafone - 67Mb fibre & line '£21.84/mth' 24-month contract	Cheap fast fibre with good service. Apply through this Vodafone 67Mb link and you pay £26/mth. But you can CLAIM a £100 Amazon, Tesco, Sainsbury's or M&S voucher. Factor that in and it's equivalent to £21.84/mth over the 24-month contract before calls. Vodafone was rated 'good' in our last service poll.

Standard broadband deals can often be cheaper in the short term - especially if you want fast speeds. If you're willing to switch regularly and you want fast fibre or quicker, the cheapest standard deals often undercut social tariffs as they usually include switch promo vouchers or bill credit. However, social tariffs give consistency and simplicity, so they can be a winner if you want to stay with the same firm.

As Andrew emailed last week: "After Martin mentioned social tariffs for people on pension credit, I did a quick check with my 91-year-old gran's provider to see if she was eligible. I phoned them up and sorted it, and she has gone from paying £55/mth to £20/mth - a saving of £420/yr. Happy days."
Five quick broadband switching need-to-knows:
- Don't want to switch? Haggle. Read our full Haggling tips.
- Slow broadband? Test your speed. Do a broadband speed check and try our eight speed-boosters.
- At least 50% of customers must get the advertised speeds at peak times. All providers above also tell you the estimated max speed you're likely to get before you sign up.
- Switching usually only means about two hours of downtime. You're told the switch time in advance and most won't need an engineer to visit. If switching to or from Virgin, it's more likely.
- Members of cashback sites can sometimes undercut deals. More in Top cashback sites.

Are solar panels worth it? Solar panels generate electricity to cover some (or all) of your usage, meaning your energy bill is cheaper - and with today's high prices, this can be a big saving. But they're not cheap to install, so check how the maths works for you in our updated Are solar panels worth it? guide.

New. Sainsbury's launches 'Nectar Prices' - but how good are the discounts? There's up to 60% off 300 items for Nectar card-holders. We've analysed the deals, including how they compare to other supermarkets.

A YEAR's 2for1s at 416 UK gardens (including Kew, Warwick Castle and Bodnant) + free seeds worth £14, with £8.50 mag. Always hugely popular. Just one visit often saves you the cover price. Gardeners' World

'I saved £1,300 swapping my car finance for a loan - big thanks MSE.' Our success of the week comes from Danny, who cut his interest costs by switching to a loan: "Just wanted to thank you as I looked into what I still had left to pay off on my car finance. By taking a loan, I could pay less interest, and less each month. I couldn't believe how much I saved - over £1,300. A big thank you for all your good info." If we've helped you save (on this, or owt else), please send us your successes.

How to see Hamilton for £10, Cabaret and A Street Car Named Desire for £25 plus more cheap West End shows. It takes a little effort... and a lot of luck. Can you win the theatre lottery?

Fixed mortgage rates now from 3.8% - so should you fix? With rates getting cheaper, we've full info and help in Mortgage rates analysis.

24 summer plants and 10 packets of seeds for £9 delivered. MSE Blagged. 8,000 bundles available, but it doesn't deliver to Northern Ireland or parts of Scotland. Thompson & Morgan

BLAGGED FOR MSE

- 24 summer plants and 10 packs of seeds £9 8,000 available
- Grüum skincare set £10 (normally £27) 5,000 available

DID YOU MISS?

- Ends Thu. TWO pairs of designer prescription specs from £25
- Achoo! 180 hay fever tablets £4.79
- Win! Economy 7 pricing made fairer after Martin's plea
- On minimum wage? Check you're not underpaid - 500,000 are
- Tesco cuts Clubcard points at the forecourt

Grab 5% cashback, £150 Nectar or 'free' flights... just for doing normal spending!

Pay with a cashback or rewards credit card and you GET PAID TO SPEND - some make or save £100s a year this way. Barclaycard's just launched a short-lived double Avios offer, so this week we're running down the top pick reward cards, whether you want free flights, to max your cashback, or to pocket points to use for money off when shopping.

To best use a reward card, do all normal spending on it (it's not an excuse to overspend!) and pay it off IN FULL each month, preferably by direct debit, so there's no interest and no cost. Yet this is only for those who are debt free and financially disciplined. If you don't trust yourself with a credit card, it's not worth the risk. Our current top picks...

TOP-PICK NEW CARDHOLDER REWARD CREDIT CARDS
Amex Everyday Check your acceptance odds through the link above, or apply direct*	- 5% cashback in first 3mths (max £100) - Then up to 1% cashback - No fee - 28.8% rep APR	Top pick if you just want straightforward cashback. You get a hefty 5% back on the first £2,000 spent, then it's tiered: 0.5% cashback on up to £10,000, 1% above. Yet you need to spend £3,000+/yr on it to get any cashback (if you'll spend less, don't bother). PS: After the first £3,000, you could open Chase's current account, which pays 1% cashback for 12mths on most spending, though it's a debit card rather than a credit card.
Amex Gold Check your acceptance odds through the link above, or apply direct*	- 20,000 bonus points on £3,000+ spend in first 3mths - 1 Amex point per £1 - No fee in year one, then £160 - 28.8% rep APR	Top all-round reward card - but hefty fee from year two. Hit the bonus trigger and you'll have 23,000 Amex points, worth £150 in Nectar points (through a Nectar trick), £100 in Amazon/M&S etc vouchers or 23,000 air miles. You also get four annual free visits to airport lounges and up to £10 cashback on Deliveroo each month. Important: If you don't want to pay the £160/yr fee, make sure you cancel before year two.
Ends Mon. Barclaycard Avios Check your acceptance odds through the link above, or apply direct*	- 10,000 bonus Avios on £1,000+ spend in first 3mths - 1 Avios per £1 spent - No fee - 25.9% rep APR	Top fee-free Avios card. Apply through our links and you'll get 10,000 bonus Avios when you spend £1,000+ (normally 5,000), which can be used to reduce the cost of flights (or keep collecting - 18,500 points gets you a 'free' Europe return, though you still pay taxes & charges). Big spenders also get a free cabin upgrade if spending £20,000+/yr.

The Credit Card Rewards Golden Rules.
a) Do all normal spending on the card to maximise the gain - but it's not an excuse to overspend.
b) Always repay IN FULL each month, preferably by direct debit, to avoid interest that will dwarf the gain.
c) Never withdraw cash. You pay interest on it even if repaying in full, and it hits your credit score.
d) Never go over your credit limit, or you'll pay a £10ish fee.

Full details on these cards and other options in Credit card rewards and Airline credit cards.

Two-week warning. Act NOW - if you've no photo ID, you WON'T be allowed to vote in May. For the Thu 4 May local elections, all voters in England, Scotland & Wales will, for the first time, need ID to vote. If you don't have any, you can apply for a Voter Authority Certificate, but must do so by Tue 25 Apr. Full info in What ID do I need to vote?

Kids eat 'free' or for £1 restaurant deals. At Asda, Bella Italia, Harvester, Pizza Hut and more. We've updated our Where kids can eat for 'free' or £1 guide for the Easter hols.

Ends 11.59pm tomorrow (Wed). 15GB data Sim under '£5/mth'. Newbies to iD Mobile (uses Three's network) can get a 15GB Sim with unlimited mins & texts for £8/mth, but you can CLAIM a £40 Amazon or Currys voucher after 90 days and, if you'd have spent there anyway, factor that in and this is equivalent to £4.67/mth over the 12-month contract. Need more/less data or a new phone? Do a full comparison using our Cheap Mobile Finder.

Grüum three-piece skincare set £10 delivered (normally £27). MSE Blagged. Includes facial wash, tonic and moisturiser. 5,000 available. Grüum

Tell us your experience of electricity usage-cutting schemes. Most big energy suppliers offered discounts/rewards for cutting peak-time usage this winter. If you took part, tell us how it went and how much you earned.

FREE National Cycling Show Birmingham tickets (normally £10). 17 to 18 June, 6,000 available. On yer bike

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AT A GLANCE BEST BUYS

Longest 0%: NatWest - 30 months 0% 2.99% fee (23.9% rep APR)
No-fee 0%: NatWest - 19 months 0% (23.9% rep APR)

£200 to switch + £36/year cashback: NatWest / RBS
£175 to switch + TOP service: First Direct

Top easy access: Chip 3.55%, min £1
Top one-year fix: SmartSave 4.52%, min £10,000

Try our Car Insurance Compare+ tool

Cheapest for £5,000 to £7,499: AIB (NI) (apply), 5.6% rep APR
Cheapest for £7,500 to £15,000: Tesco Bank (check eligibility / apply*), 4.9% rep APR

Fibre (30Mb+): Shell Energy '£19.53/mth'
Fast fibre (55Mb+): Shell Energy '£19.58/mth'

On universal credit or similar? Check all discounted social tariffs

Up to 3GB data: Lebara, '£2.94/mth' for 3GB
4GB to 9GB data: Lebara, '£3.70/mth' for 5GB
10GB+ data: iD Mobile, '£4.67/mth' for 15GB

THIS WEEK'S POLL

How much are your typical monthly household bills? April's bill hike season is now in full swing, so this week we want to know how much you spend each month on household bills (for example, energy, council tax and groceries - but excluding rent or mortgage), and how much they've increased. Let us know in this week's poll.

One-third of MoneySavers have an electric or hybrid vehicle. Of the 7,000+ people who responded to last week's poll, 35% said they already have a fully electric or plug-in hybrid electric vehicle. Yet of those who don't currently have one, only one-third said they'd consider one for their next vehicle. See the full poll results.

MSE NEWS

- Many British Gas smart meter customers STILL can't track energy usage

MONEY MORAL DILEMMA

Is it wrong to invest my children's savings in a property for them? I have two kids who each have a children's savings account, and I've saved a total of £10,000 for them. I have three buy-to-let properties, and am thinking about investing their money in a fourth, as it will work it harder for them. I'm aware it's their money, not mine, and they wouldn't be getting a say in how their savings are invested. But this way I'll pay them back much more than they would otherwise have had when they're old enough to use the money. Should I leave it where it is or invest it? Enter the Money Moral Maze: Is it wrong to invest my children's savings for them? | Suggest a Money Moral Dilemma

MSE TEAM BLOG

- MSE Forum highlights: Voles, vendors & voided documents

MARTIN'S APPEARANCES (WED 12 APR ONWARDS)

Tue 18 Apr - This Morning, phone-in, ITV, 10.20am

MSE TEAM APPEARANCES (SUBJECT TBC)

Tue 18 Apr - BBC Radio Cambridgeshire, Mid-morning with Jeremy Sallis, from 10.45am

SPICE UP YOUR CHILLI OR WHIP UP A MOUSSE... HOW DO YOU USE UP LEFTOVER EASTER EGGS?

That's all for this week, but before we go... MSE Forumites have been swapping tips for using up surplus Easter eggs (yes, apparently some people do actually have leftover chocolate). One suggestion is to add a small amount of dark chocolate to chilli for extra flavour, while others include making them into mousse or hot chocolate, or melting down the eggs and setting them into bar form. And a popular option was donating them to a food bank to help those less fortunate. Add your own suggestions to the Tips for using leftover chocolate Easter eggs? MSE Forum discussion.

We hope you save some money,
The MSE team

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Martin Lewis CBE is the founder and executive chair of MSE, as well as the founder of the MMHPI charity. He's an ultra-focused MoneySaving journalist and consumer campaigner with his own prime-time ITV programme The Martin Lewis Money Show, Radio 5 Live Wednesday show Ask Martin Lewis and weekly slot on This Morning, among others. More info: See Martin Lewis' biography.

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