Interactive Investor

The 2022-23 deadline for ISA contributions is midnight on 5 April 2023. This is the end of the tax year.

What happens if I do not use my annual allowance before the deadline?

After the deadline, any money you pay into your ISA will count towards your annual allowance for 2023-24. 

If you have unused annual allowance from 2022-23, you cannot use it after the 5 April cut-off date. Your unused annual allowance will be lost as it is not possible to carry forward unused annual allowance to the next tax year. 

How much is the annual allowance?

The annual allowance for ISA contributions is up to £20,000 in a tax year. 

You can split this allowance between each type of ISA that you hold. For example, you could split it between a Cash ISA, a Stocks and Shares ISA and a Lifetime ISA (up to £4,000 per year). 

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