From Morningstar:

As the tax year draws to a close on 5 April, financial advisers recommend opening an instant access cash ISA to quickly use up your allowance. Parents can max out junior ISAs before the age increases to 18, allowing older teenagers a unique opportunity to stash away money tax-free.

Taylor Beavis highlights the tax advantages of ISAs over external investments, advising clients to sell investments outside of ISAs to utilize the capital gains tax allowance. Cash ISAs are praised for their high-interest rates, especially advantageous for higher-rate taxpayers looking to save on taxes immediately.

The UK’s ISA system is often deemed too complex, with multiple types of ISAs and various rules and limits causing confusion among the public. Despite this, experts urge individuals to seize the opportunity now to maximise their allowance, with cash ISAs becoming more crucial in light of rising interest rates and reduced capital gains tax allowance.



Read more at Morningstar: The Tax Year Endeth. How Can I Maximise my ISA…