The 5th of April marks the end of the 2020/21 tax year. Around this time, a lot of investment providers start shouting about the 'ISA countdown', telling you to 'use or lose' your annual ISA allowance in a bid to get you to invest it with them. You might find yourself thinking, what's the fuss? In reality, most people don't need to worry about maxing out their £20,000 ISA allowance.
We think the time-pressure tactics used by financial companies in their ads don’t have your best interests at heart. You need to know how the end of tax year impacts you, but the use of sales-driven marketing messages like ‘use it or lose it’ may mean you may feel pressured into making quick and uninformed decisions on your finances. That’s where we come in.
If you want to know how the end of the tax year impacts you and your savings, we’ve created a quick quiz that will tell you in less than a minute if you need to make a fuss about the end of tax year deadline. Take our end of tax year quiz below.
And if you are considering depositing into an ISA before the end of tax year, our financial health check will tell you exactly what the next step is for your finances. Remember, when investing your capital is at risk.