With the April 5th Tax Year End deadline fast approaching, there’s never been a better time to top up your ISA.
You can invest up to £20,000 in a Stocks & Shares ISA in the current tax year. If you do not use all your ISA allowance before the end of the tax year, it will be lost forever. You cannot carry forward any unused ISA allowance from one year to the next- you either use it or lose it.
All growth within your Stocks & Shares ISA will not be subject to Capital Gains Tax or Income Tax, so it makes sense to invest as much as possible into your ISA to do more with your money.
The savings on tax and the potential long-term growth of being invested in a fully diversified Portfolio is a winning combination. By ignoring your ISA allowance, you could be waving goodbye to possible growth and gains.
To take advantage of this allowance and protect your money from tax, follow these simple steps:
- Log in to your True Potential app or online account and access your ISA.
- Tap impulseSave® to top up from £1 or ‘Max My ISA’ to invest your remaining allowance*.
- Confirm your details and we’ll process the contribution, it’s that simple.
Don’t miss out! Make the most your allowance before April 5th.
With investing, your capital is at risk. Investments can fluctuate in value, and you may get back less than you invest. Past performance is not a guide to future performance. Tax rules can change at any time. This blog is not personal financial advice.
*Please note the ‘Max My ISA’ function only accounts for your contributions to True Potential Investments ISAs. You should ensure your total contribution does not exceed £20,000 in a tax year.< Back to Blog