When is the ISA deadline 2017? How to make the most of your tax-free allowance – WBNews

Don’t miss out: The ISA deadline is at the end of the tax year When is the ISA deadline? People must add to their tax-free accounts, known as Individual Savings Accounts (ISAs), before the deadline at midnight on Tuesday April 5 2017. The date marks the end of the 2016/17 tax year. If savers miss the deadline, they lose their unused allowance for the past year. What is your ISA allowance? Each tax year Britons get an ISA allowance, which is the largest amount that they can save in cash and investment ISAs. The maximum amount that can be saved before the end of the 2016/17 tax year is £15,240. Savings which remain in an ISA year-on-year will continue to reap tax-free benefits until withdrawn from the account. The ISA deadline is midnight on Tuesday April 5 2017How much is the next ISA allowance? The annual ISA limit is set to rise to £20,000 from April 2017. From April 6, anyone who has an ISA or opens an ISA has a year to save up to this amount before April 5 2018. How to make the most of your ISA allowance Up to £15,240 can be put into a cash ISA or a stocks and shares ISA. Alternatively it can be split between the two types of ISAs. Cash ISAs are simple savings accounts which do not tax interest and offer a low-risk return on cash. The stock market offers higher potential rewards than a cash ISA but it comes…more detail