If you are sitting down with your ipad, diary, phone or calendar make sure you include these 4 key financial dates for 2012 as there are a few financial changes taking place this year.

1. January Tax Deadline

If you are self employed, or have income coming in from more that one source then you need to complete a tax return online by the 31st of January. It is important to note that even if you don’t owe any tax – but need to complete a tax return you will be fined £100 for not completing it in time. The deadline for completing by paper was back in October so you need to complete it online at the HMRC website.

2. End of Stamp Duty Holiday for First Time Home Buyers

If you are buying your first house you have until late March if you want to avoid paying Stamp Duty Tax.

So if you are looking to make a saving then you need to start looking now. However one of the biggest problems first time buyers face is not finding something in time, it is having a large enough deposit to secure a competitively priced mortgage.

The government has announced that they will be launching a government sponsored 95% mortgage on new build properties. The date is not finalised as yet, but suggested to be 2012.

3. Protecting Your Lifetime Allowance

From 2012 the maximum you can save into a pension will fall from £1.8m to £1.5m, however if you are retiring or near retirement you can protect this benefit by applying to the HMRC by the end of 2012. This change will also affect people on a final salary pension too of £75k or more.

If you don’t apply for this ‘protection’ you will find pension savings above £1.5m are taxed at 55%.

The sting in the tail is that even thought you will be avoiding additional taxes you will lose out on contributions from your employer which could be worth more than the tax decution, like a substantial pay rise.

4. Contracting out of Second State Pension

2012 is the last year that UK residents will be able to contract out of SP2 (previously known as SERPS). If you wish to opt out you will get a refund of part of your national insurance contributions to invest directly in a personal pension rather than receiving an earnings-related state top up instead.

If you want to contract out you need to complete a CA1542 form. If you already have a personal pension you can ask your provider to send the form to you.