Do not get left out in the cold by ISA deadline

WITH the tax year-end fast approaching, experts are urging savers and investors to take advantage of this year's annual tax-free ISA allowance before it expires at midnight on April 5.

- Harvey Jones

ISAs are issued on a "use it or lose it" basis, so if you miss the deadline this year's allowance has gone for good.

This year the urgency is even greater amid speculation that Chancellor Rachel Reeves may change or even cut ISA benefits in her Spring Statement on March 26, a month from today.

While any changes will not come into force this financial year, they could apply from the new one beginning on April 6.

ISAs allow every adult to save or invest up to £20,000 each tax year, free from income tax, dividend tax and capital gains tax.