ISA Deadline 2023

Reminder ISA deadline 2023 - website (1)

Isa Deadline 2023

Every year, savers and investors can currently put up to £20,000 into an ISA, but the deadline for using this year’s allowance is fast approaching and if you don’t use it, you will lose it. 

If you make use of this valuable allowance every year, it’s vital you do not miss out, use it in full every year and you could be on your way to becoming an ISA millionaire. 

If you have not used it before, you really should, saving as much as you can, with a lump sum, or a monthly amount. 

ISAs are an extremely important part of any savings and investment plan, because you can take an income in the future without paying income tax on that money, or you can withdraw lump sums, without any capital gains tax. As tax breaks disappear, this really is one not to miss. 

Cash or Investment ISA? 

You can save money in an ISA at a bank or building society, keeping your money in cash, getting an annual interest rate, fixed or variable. 

This can be useful to build up or keep your emergency funds, especially if you use an instant access account. 

It’s always good to build up some tax efficient savings in easy access cash. 

But if you are saving and investing for the longer term an investment or stocks and shares ISA might be good for you. 

You can invest in a range of funds and/or shares that could grow well over the medium to long term. 

Choosing the right ISA for you can be very difficult, so it’s usually best to talk to an investment professional to guide you through your options. 

If you already have one or more ISAs, you can transfer them without affecting this year’s allowance to get a better interest rate, to look for better investment returns or to find a provider with lower charges. 

There are actually 5 different types of ISA:- 

  • Cash ISA 
  • Stocks and shares ISA 
  • Lifetime ISA 
  • IFISA 
  • Junior ISA 

Here are a few key facts about ISAs*:- 

  • The maximum you can put into an ISA in the current tax year is £20,000. 
  • You can have a cash ISA from age 16 onwards. 
  • You have to be 18 or over to have a stocks and shares ISA. 
  • Some ISAs are flexible, you can put £20,000 in now and withdraw say £5,000, then put that £5,000 back in later – as long as you do all this in the same tax year. It’s important to remember that not all ISAs are flexible, so check with your chosen provider before investing. 
  • You can have a lifetime ISA between ages 18 and 39. 
    • You can save a maximum of £4,000 a year. 
    • They are designed to help people saving for their first home or for their retirement and you can get a 25% boost. 
    • If you put £4,000 into a lifetime ISA, you can only £16,000 into your other types of ISA – the total limit per tax year. 
  • The innovative finance ISA is designed to let you save in a tax efficient way but your provider will lend your money to borrowers or businesses. It can obviously be a high risk ISA option so it’s not for everyone. 
  • Junior ISAs – This version of an ISA is for children from 0-17. You can save up to £9,000 a year for (2022/2023 tax year) but it is a separate allowance, so if you can, you can still save £20,000 for yourself as well. 


ISAs are a vital tax efficient part of your savings and investment plans. There are many different options and formats, to help find your way through the ISA maze get in touch and make sure you don’t miss out on this year’s allowance. 


Capital at risk on some ISA products. Investments in equity markets can be volatile and you may get back less than your original investment.   

*For full details about any of the types of ISA mentioned above, please contact 

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