Time is Running Out – Have You Maximised Your ISA?

The tax year ends on 5 April, which means time is running out to make the most of your ISA allowance and ensure you’re benefiting from all available tax reliefs.

Here’s what you need to know before the deadline:

Why It Matters

Your ISA allowance of £20,000 is use-it-or-lose-it. If you don’t use it by the deadline, it’s gone for good.

Have a spouse or partner? They also have a £20,000 allowance, giving you a combined tax-efficient investment of £40,000.

If you have children or grandchildren, Junior ISAs allow you to invest up to £9,000 per child – a smart way to pass on wealth tax-efficiently.

Investment Growth Over Time

Investing in a Stocks & Shares ISA can provide significant long-term benefits. For example, if you started with £5,000 and added £5,000 per year, your money could grow considerably thanks to tax-free interest and reinvested returns.

(Figures are based on growth after charges of 2.4% per year. Your capital is at risk.)

Thinking About Transferring Your ISA?

If you’re considering moving from a Cash ISA to a Stocks & Shares ISA, this could be a great step toward long-term growth. We can help make the process smooth and secure.

🚨 Key Considerations:

✔ If you transfer as cash, your money won’t grow while it’s out of the market.
✔ If transferring a fixed-rate Cash ISA, check for exit fees.
✔ When transferring a Stocks & Shares ISA, your investments stay in place, but you won’t be able to make changes during the process.

Don’t Forget Other Tax Reliefs

Beyond ISAs, our Tax Checklist can help you make sure you’re making the most of other opportunities, such as:

✔ Pensions & carry-forward rules if you’re self-employed.
✔ Efficient tax planning if you’re earning bonuses or share options.
✔ Inheritance tax planning to pass on your wealth efficiently.

Final Call: Act Before 5 April

Once the tax year ends, you can’t go back. If you’re unsure whether you’ve optimised your tax benefits, get in touch today to make the most of your money.

Contact us now or check out our Tax Checklist to make sure you’re covered.