With just over one week until the deadline for using your 2018/19 ISA allowance of £20,000, this really is your last opportunity to act.
The combination of poor savings rates and the reduced tax appeal of Cash ISAs due to the Personal Savings Allowance, means that ISAs are being used more for investments rather than cash, a trend over the last few tax years that we see continuing with an increase in Stocks & Shares ISA subscriptions. So whether you are reviewing your existing ISAs, or have some or all of your ISA allowance remaining, here we give you some of our best last minute ISA ideas.
On the cash side, we have a competitive instant access from Nationwide, along with one of our most popular plans this year, the Callable Deposit Plan which offers capital protection and the potential for 8% interest (2% per quarter) for each year the plan has been running. On the investment side, we cover both income and growth investment plans, with growth of up to 12.8% per year on offer, and income as high as 7.20% interest per year, even if the stock market falls almost 20%.
We also give you some of our most popular fund ISAs, whether you want to pick from a small range of risk rated funds, select your own funds, or invest in a managed portfolio. So whether you are looking to invest a lump sum, monthly, or a combination of the two, we cover a wide selection from the best the market has to offer. Some of these also allow you to use next year’s £20,000 ISA allowance as well (2019/20), thereby offering the opportunity to invest up to £40,000 into new ISAs in the next few days, so there’s certainly no time to waste…