The stress-free way to secure this year’s ISA allowance

It’s no secret ISAs are one of the most generous tax breaks currently on offer. Even with all the uncertainty in the world right now, it would be a shame to let our allowances get away from us.

It's a common misconception that you need to invest straight away when you add money to a Stocks and Shares ISA. If you don’t want to invest right now or you’d like more time to choose your investments, there’s no need for you to miss out.

This tax year, you can contribute up to £20,000 into ISAs and your money is immediately sheltered from UK income and capital gains tax. Tax rules can change and the benefits of investing in ISAs will depend on your personal circumstances.

But time is running out if you want to make the most of your ISA for this year. You’ve got until midnight on 5 April, before the tax year ends and your ISA allowance for this year is lost forever.

There’s a simple, stress-free way to secure your ISA allowance without investing straight away.

Secure your ISA allowance with cash

You can open your ISA with cash and choose what to invest in later on.

As long as you add money before the deadline, midnight on 5 April, any contribution you make will count towards this tax year’s allowance.

Adding cash to your ISA at this time of year gives you a number of benefits:

• You secure your valuable ISA allowance – if you don’t use it by 5 April, it’s lost forever.
• You don’t need to rush your investment decision – there’s no deadline for investing the money so you can invest when you’re ready.
• Cash is a stress-free interim solution – you can always take your money out if you need to, although investing in a Stocks and Shares ISA should be for the long term.

Unlike cash, investments can fall as well as rise in value so you could get back less than you put in.

DISCOVER MORE ABOUT ISAS

Download our guide to ISAS

Open or top up your ISA with cash

It’s easy to open or top up your HL Stocks and Shares ISA with cash before the deadline and invest when you’re ready. If you would like to apply, all you need is your debit card and your national insurance number to hand. It can take just minutes online.

Before you apply, please make sure you’re happy with our terms and conditions (including tariff of charges) and key features.

Act now to avoid missing out.

This article isn’t personal advice. If you’re not sure of the suitability of an investment for your circumstances, please ask for financial advice.

Open or Top up your ISA

Investment ideas for an ISA

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