Why the ISA is the hero of the tax year end
Everything you need to know about the 5th April deadline.
What makes ISAs so valuable
ISAs allow savings and investments to grow without income tax or capital gains tax. Each tax year comes with a fresh allowance – currently set at £20k for your ISAs – but any unused ISA allowance cannot be carried forward into a new tax year.
Why using your ISA allowance matters
Over time, tax can reduce returns. Using an ISA removes that friction and simplifies your investing and saving returns. Plus, it also means that more of your money stays where it belongs – with you.
How to use your ISA allowance effectively
You don’t need a lump sum. Adding money before 5 April gives it more time to grow tax-free. This applies whether you’re saving in cash or investing.
Things to keep in mind
Adding money in a sustainable way according to your current salary and budget is a more effective way to build your wealth and establish good saving and investing habits when compared to trying to max out your ISA allowance each tax year. ISA and tax rules, and account T&Cs apply. If investing, capital at risk.
Key tax year timings
To get you ready for 5th April, check out our timings for final deposits, transfers, move money, and new account openings.