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

With the end of tax year fast approaching on 5 April, we take a look at a simple stress-free way to secure this tax year’s ISA allowance without the need to invest straight away.

Important notes

This article isn’t personal advice. If you’re not sure whether an investment is right for you please seek advice. If you choose to invest the value of your investment will rise and fall, so you could get back less than you put in.

It’s no secret ISAs are one of the most generous tax breaks currently on offer. Even with the uncertainty in the stock markets 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 make your investment decision later. You can hold cash for as long as you need to decide where to invest and be confident the time is right.

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 is 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

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 is not personal advice. If you’re unsure of the suitability of an investment for your circumstances, please ask for advice.

Find out more about our Stocks and Shares ISA

Open or Top up your ISA


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Important notes

This article isn’t personal advice. If you’re not sure whether an investment is right for you please seek advice. If you choose to invest the value of your investment will rise and fall, so you could get back less than you put in.

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