Interactive Investor


ISA deadline 2024 – Everything you need to know 

The ISA deadline is just around the corner. If you don’t use all your allowance by 5 April 2024, it’s gone. Here’s what you need to know to make the most of your money. 

What is the ISA deadline?

Important information - investment value can go up or down and you could get back less than you invest. If you're in any doubt about the suitability of a Stocks & Shares ISA, you should seek independent financial advice. The tax treatment of this product depends on your individual circumstances and may change in future. If you are uncertain about the tax treatment of the product you should contact HMRC or seek independent tax advice.

Each year, you can top up your ISAs and set aside even more tax-free money for whatever you have planned. While you can do this at any time, there’s a limit to how much you can add annually – and we’re closing in on that all-important ISA deadline. 

But making sure you’re taking advantage of every possible opportunity doesn’t have to be daunting. Let’s run through the when, why and what of your ISA allowance and put your best financial foot forward. 

When is the ISA deadline?

For 2023-24, the ISA deadline is midnight on 5 April 2024. You have an annual allowance of £20,000 – the more you top up, the more you stand to financially benefit.

This can be split across all of your ISA accounts, whether it’s a Cash ISA, Stocks and Shares ISA or a Lifetime ISA (though you can only contribute £4,000 a year to this one).

Get your ISA cashback offer

New customers who open an ISA and start a transfer of, or deposit, £2,000 or more before 29 February 2024 will receive a £100 to £1,500 cashback payment.

Once the transfer is complete and additional terms have been met, we'll pay your cashback into your Trading Account. Once you've opened an ISA, a Trading Account can be added for free.

Simply open an account to get started. Cashback paid after 12 months. Terms apply.

Why you should use all your allowance

If you don’t use your £20,000 allowance, you miss out on tax-free savings. You cannot carry it forward to the next financial year. Since ISAs are tax-efficient, they are a great way to save your money.

Whether you’re saving up for a big life moment or are simply putting it aside for the future, the more you add to your ISA, the better.

What this means for you 

It means now is a perfect time to set aside some money ahead of the deadline. But something to keep in mind is where your ISA is. 

Various providers will have their own rates that you have to consider. At ii, you just have a flat monthly fee, meaning you always pay a consistent price. That predictability makes planning your finances so much simpler.

If that means transferring providers, just know that it won’t affect your allowance. The money you move between accounts is separate from this limit and can exceed it.

Still have questions?

Top up your ISA today

Secure your financial future from as little as £4.99 a month. Open an ii Stocks and Shares ISA and make the most of your money.

New to interactive investor?

Opening an account only takes 10 minutes. Just have your address, debit card details and National Insurance number to hand.

Already an ii customer?

Log in and add a new Stocks and Shares ISA to get started today.