The tax advantages are so rewarding, the government sets strict limits on the amount you can invest in ISAs each cash year. This is capped at £20,000 in the current tax year. But there may be some ways to use ISAs to shield much more of your wealth from the taxman, and so make it grow faster as a result.
It may have been easy to forget that we are now in the third week of the new tax year. Some investors may ask should they you use your allowance early, wait until the end of the tax year? We look at three reasons why it may be a good time to act on this now.
The new tax year is nearly here, and savers and investors are rushing to use up their 2019/20 ISA allowances before 5th April and planning the best way to use their new 2020/21 allowance after 6th April.
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