Don’t miss out! Use your ISA allowance before 5th April

The clock is ticking! With the tax year ending on 5th April, it’s time to make sure you’re taking advantage of your Individual Savings Account (ISA) allowance. This  ‘use it or lose it’ opportunity allows you to invest up to £20,000 each year in a tax-sheltered environment.

But why invest through an ISA? Here’s the magic: any growth on your investments within an ISA – including dividends and capital gains – is completely free from UK income and capital gains tax. This allows your money to compound faster, meaning your returns grow on top of previous returns, accelerating your wealth creation.

Let’s face it, inflation eats away at the value of cash over time. A traditional savings account might offer minimal interest, barely keeping pace with inflation. By investing within an ISA for the long term, you have the potential to significantly outperform inflation and achieve your financial goals, whether it’s a comfortable retirement, a child’s education, a dream trip or a sky-diving adventure!

Remember, you only have until April 5th to use your ISA allowance. Don’t miss out on this valuable opportunity to grow your wealth tax-free!

Find the right home for your ISA with our comparison tools here.

Photo by Kamil Pietrzak on Unsplash

Article is accurate at date of writing.